Nashville (Tenn.) & Davidson County Metropolitan Government Employee Benefit Trust Fund will launch searches for a general investment consultant and its first alternatives investment consultant, likely by the end of July, said Fadi BouSamra, chief investment officer, in an e-mail.
The $2.8 billion pension fund will issue RFPs following the investment committee’s decision to add a dedicated consultant to advise on alternative assets, “mainly due to the plan’s growing needs,” Mr. BouSamra said. Summit Strategies Group, currently the pension fund’s sole investment consultant, is eligible to bid.
The plan’s target allocation is 21% fixed income, 20% domestic equity, 15% fixed-income alternatives, 13% international equity, 12% each private equity and real assets, and 7% long/short equity.
A due date and timeline for a decision have yet to be determined. The RFPs will be posted at the city’s procurement website.