Health Care Foundation of Greater Kansas City will search for an investment consultant in the summer of 2016, said Rick Zimmer, the foundation’s chief financial officer, in an e-mail.
The $538 million foundation, based in Kansas City, Mo., plans to issue an RFP for a contract beginning Jan. 1, 2017, Mr. Zimmer wrote. The last time the foundation issued an RFP for an investment consultant was 2010. Incumbent Aon Hewitt Investment Consulting will be invited to rebid.
The foundation also added $10 million to Parametric Clifton’s Defensive Equity Fund, a low-volatility equity strategy. The foundation originally invested $17 million in the fund in July.
The addition is the result of a small shift in the target allocation to hedge funds to 17% from 15% and fixed income to 17% from 19%.
Other targets that remain unchanged are 17% global equity, 15% private equity, 12% each domestic equity and non-U.S. equity, and 10% real estate.
No managers were terminated, and Mr. Zimmer did not specify the funding source.
Aon Hewitt Investment Consulting assisted.