Denver Employees Retirement Plan issued an RFP for at least one firm to provide general investment and real estate consulting services, said Steven Hutt, executive director of the $2.1 billion plan. The RFP is for general consulting services with an option to include real estate services. Current general consultant Callan and real estate consultant Townsend can rebid. Mr. Hutt said it has been 15 years since the fund’s last consultant search. The RFP is available by e-mailing CIO Randy Baum at [email protected] Responses are due May 23, with a decision expected in mid-July.
Separately, the fund increased its private equity allocation to 5% of total assets from 4%, and reduced its high-yield bond allocation to 5% from 6%. No terminations or allocation reductions are expected, as the fund was underallocated to high-yield bonds. Mr. Hutt said the move was “in part a recognition of where we’ve already been” because private equity currently accounts for 4.5% of assets.
