San Diego County Employees Retirement Association is searching for a general investment consultant, said Mary Montgomery, pension fund spokeswoman.
The $9.9 billion pension fund issued an RFP as part of its due diligence as it continues to transition to an in-house investment program following the termination of outsourced CIO firm Salient Partners last July. It adopted a new investment policy and asset allocation in November.
Verus Advisory, currently under contract as general investment consultant, is invited to rebid.
The target asset allocation is 24% fixed income; 18% domestic equities; 15% international developed equities; 9% each emerging markets equities and real estate; 8% each alternative beta/opportunistic/other and private equity; 6% private real assets; and 3% global equities.
The RFP is available on the pension fund’s website. Proposals are due April 22. Finalist interviews and a selection are scheduled for June 16.
Separately, the pension fund has also issued an RFP for tax and investment counsel. The RFP is also available on the pension fund’s website. Proposals are due May 2, with a decision expected by June 3.