Minnesota State Board of Investment, St. Paul, on Monday issued an RFP for a general investment consultant.
The five-year contract of Callan Associates, the plan's current consultant, is expiring, said Mansco Perry III, the board's executive director and chief investment officer. Callan can rebid, and Pension Consulting Alliance, the board's special projects consultant, also may bid.
The RFP is available on the board's website.
Proposals are due at 3 p.m. CDT Sept. 9. A selection date has not been set.
The board oversees investment of $78 billion in assets, including $65 billion in retirement plan assets. Its target allocations for state retirement assets as of July 1 was 58% public equities, 20% each fixed income and private markets, and 2% cash.