Fresno (Calif.) City Retirement Systems hired NEPC as investment consultant, confirmed Stanley McDivitt, retirement administrator.
The contract starts Feb. 1. Meketa Investment Group and Wurts & Associates were also finalists.
NEPC replaces Wilshire Associates, which rebid. Mr. McDivitt said previously that Wilshire was not selected “based on their historical performance with the systems, their potential organizational conflicts and a proposed increase in consulting fees.”
Wilshire spokeswoman Kim Shepherd said the firm does not comment on client matters.
The pension funds — the Employees Retirement System, and Fire and Police Retirement System — have a combined $2.2 billion in assets.
