Alaska Community Foundation, Anchorage, hired Robert W. Baird & Co. as investment consultant for its $76 million investment portfolio, said Kevin Gray, the foundation's chief financial officer, in an email.
An RFP was issued in September for fiduciary purposes. It had been five years since consulting services were put out to bid, Mr. Gray said. Fund Evaluation Group, the previous investment consultant, did rebid.
As of June 30, the foundation had an asset allocation of 27.9% fixed income, 20% large-cap equities, 14.4% hedge funds, 12.4% emerging markets, 12.3% international equities, 7.7% public natural resources, 2.2% private debt, 1.5% real estate, 1.2% private equity and 0.4% private natural resources. The foundation also recently approved expanding its passive allocation to domestic equity, international equity and investment-grade fixed income to between 75% and 100% from about 13% now.
Baird will be expected to assist with implementation.
