Montgomery County Board of Education, Rockville, Md., is looking for a general investment consultant and an alternatives investment consultant for the school system's $1.2 billion defined benefit plan.
The two RFPs “create the possibility for two consultants,” but the system could decide to have one firm provide both services, Chief Investment Officer Jonathan Grabel said in an interview. “The intent is to have two.”
Mr. Grabel said current investment consultant Hewitt EnnisKnupp is welcome to bid for the contracts, each of which will be for three years, with three one-year extensions.
The system's current allocation targets are 50% global equities, 25% fixed income and 25% alternatives.
The posting will be available on the board of education's website.