Searches and Hires

Croydon Pension Fund taps Mercer as investment consultant

Croydon Pension Fund, London, hired Mercer as its pension investment consultant, according to a notice on European procurement website Tenders Electronic Daily.

The contract under the national local authority investment consultancy services framework will last five years with the option to extend it for two additional years. Aon Hewitt was the investment consultant. It could not be learned if Mercer was hired in addition to Aon Hewitt.

The 877 million ($1.1 billion) pension fund invests 42% of its asset allocation in equities, 23% in fixed income, 34% in alternatives and 1% in cash.

The Croydon pension fund is a founding member of the London CIV, the 15 billion pool of 32 London local authority pension funds, launched in 2015.

A pension fund spokeswoman could not immediately be reached for further information.