Searches and Hires

Alaska preps consultant, China and emerging markets equity searches

Alaska Retirement Management Board, Juneau, will search for a general investment consultant and real estate consultant within the next year, spokeswoman Stephanie O. Alexander said in an email.

The board will issue RFPs before the contracts of general investment consultant Callan and real estate consultant Townsend Group expire on June 30, 2019. At its June 21-22 meeting, the board approved the final allowable one-year extensions for both consultants' contracts. The original three-year contracts began on July 1, 2014, with two allowable one-year renewals.

Ms. Alexander said both consultants will be invited to rebid, but would not provide further information on a timeline.

The board at the June 21-22 meeting also approved searches for a China equity manager and emerging markets growth equity manager. Ms. Alexander said Callan will conduct the searches and that portfolio sizes and a timeline are not available. She would not provide further information.

The board oversees the management of $30.9 billion in defined benefit and defined contribution plan assets, including the $16.3 billion Public Employees' Retirement System and $8 billion Teachers' Retirement System.

As of Feb. 28, the asset allocation of all non-participant-directed assets was 24.2% international equities, 24% broad domestic equities, 16.7% real assets, 9.6% opportunistic strategies, 8.7% private equity, 8.4% fixed-income composite, 7.4% absolute return and 1% cash equivalents.