Fulton County School Employees Pension Fund’s board has recommended hiring Russell Investments as discretionary investment consultant, said Greta Tinaglia, executive director.
The $370 million Atlanta-based pension fund’s board made the recommendation at its May 21 meeting. The Fulton County Board of Education will vote on the recommendation June 17.
The pension fund originally approved the search following the installation of a new pension board in June 2013 and issued an RFP in September 2014. Gray & Co., the current traditional investment consultant, was invited to rebid but did not do so, Ms. Tinaglia said.
Ms. Tinaglia said Russell would act as an outsourced CIO. The board would have to approve any changes that Russell would recommend to the investment policy, but the firm would otherwise have discretionary authority to make investment-related decisions.
Other finalists were Meketa Investment Group, SEI and UBS.
Governance consultant Cortex Applied Research assisted.