Santa Clara Valley Transportation Authority, San Jose, Calif., is searching for a general investment consultant for its $500 million Amalgamated Transit Union, Local 265 Pension Plan and the $275 million VTA Retirees' Other Post-Employment Benefits Trust, said Sean Bill, investment plan manager, in an e-mail.
Mr. Bill said the consultant will also provide services related to the management and oversight of the VTA's operating capital of $1.1 billion.
The search is being conducted because incumbent Callan Associates' contract expires March 31; the firm is invited to rebid.
“We are not predisposed to retain the incumbent nor motivated to change for the sake of change,” Mr. Bill said in the e-mail. “The objective of this RFP is to promote a spirited and vigorous 'best in breed' competition from highly expert, seasoned and suitable firms that can meet the VTA's needs — and help us cost-effectively improve portfolio performance over the long run while managing risk in alignment with the risk profiles articulated collectively by our board investment committee.”
Proposals are due Oct. 31. Finalist interviews will be Nov. 29. A timetable for selection has yet to be announced. The RFP is available on the authority's website.
