The rehiring is subject to negotiation of fees and contract terms, said Karl Koch, chief investment officer of the $27.7 billion pension fund, in a statement Monday.
An RFP was issued in December. Hewitt EnnisKnupp was the other finalist in the search conducted in anticipation of the Sept. 30 expiration of Wilshire's contract.
In other action, IPERS placed Western Asset Management Co. on watch for its $420 million emerging markets debt portfolio because of organizational issues.
Also, Janus Capital Group, which manages $160 million in smidcap growth equities, was removed from watch. The “product team appears to have stabilized” after personnel turnover last year, Mr. Koch said.