CalPERS investment committee on Monday renewed the contracts of five international fixed-income managers that handle a combined $4.72 billion for a period of one year.
The largest fixed-income manager is AllianceBernstein, which runs $1.3 billion. The others are Baring Asset Management, $132 million; Mondrian Investment Partners, $903 million; and PIMCO and Rogge Global Partners, each of which manages $1.2 billion.
The investment committee of the $232.1 billion California Public Employees Retirement System, Sacramento, also approved a search for a pool of general consultants and a specialty private equity consultant. The general consultants would provide specific services for the system that could include investment analysis and research, strategic analysis and organizational and structural analysis among other tasks. Staff will come back to the board with a list of specific tasks at the Oct. 20 investment committee meeting, after which an RFP can be issued.
Firms currently in the general consulting pool are Pension Consulting Alliance, Callan Associates, Mercer, R.V. Kuhns and Strategic Investment Solutions; their contracts expire June 30, 2009. All can rebid, said CalPERS spokesman Clark McKinley.
The search does not affect general consultant Wilshire Associates.
The private equity consultant would offer advice on the systems $25 billion private equity portfolio.