CalPERS’ investment staff selected Rogerscasey and incumbent Wilshire Associates as finalists to be the $202.1 billion system’s primary pension consultant, according to an agenda item for the system’s March 15 investment committee meeting.
Callan Associates and Meketa Investment Group, which had also bid to be the Sacramento-based California Public Employees’ Retirement System’s consultant, did not make the finalists list, according to the agenda.
The new contract would be for at least three years.
The staff recommendations will be voted upon at the March 15 meeting; staff is recommending that officials from both firms be interviewed in April.
Separately, three equity managers were put on watch for performance issues, according to an agenda item: Marvin & Palmer, which runs $228.5million in active domestic large-cap growth equities, and AXA Rosenberg and GMO, which manage $527.6 million and $616.2 million, respectively, in international equities.
Tucker Hewes, a spokesman for GMO, declined to comment. Officials at Marvin & Palmer and AXA Rosenberg did not return calls or e-mails seeking comment.
The system also announced its overall investments returned 3.7% in the fourth quarter and 11.8% for 2009. The fourth-quarter returns outperformed the Wilshire TUCS Public Fund Median’s 3.4% and the Wilshire Large Fund Universe Median’s 3.6%, according to agenda documents. However, for the year, the system underperformed the TUCS Public Fund Median and Large Fund Universe Median, both at 19.8%.
