Oregon Investment Council hired Strategic Investment Solutions as general consultant to the $40 billion Oregon Public Employees Retirement Fund, Salem. Incumbent Russell, which had consulted OPERF for more than 30 years, declined to rebid because Russell officials believed council members wanted a new consultant, according to a spokesman at Russell. "Russell is not happy this situation has occurred, but we believe our decision is in the best interests of all parties," Russell said in a statement. Russell took a minority stake in SIS earlier this year.
Separately, the board committed $100 million to First Reserve Fund X, a buyout fund.