Searches and Hires

Pennsylvania Public School Employees on lookout for investment consultant

Pennsylvania Public School Employees' Retirement System, Harrisburg, is searching for an investment consultant for its $54.8 billion investment portfolio.

The search is being conducted because the system's contract with its current general investment consultant, Aon Hewitt Investment Consulting, is set to expire soon, said spokeswoman Evelyn Williams. Aon Hewitt is invited to rebid.

PennPSERS' asset allocation as of Dec. 31 was 35.8% equities, 31.9% fixed income, 24.3% real assets, 10.4% risk parity, 9.7% hedge funds and 4.7% cash. It also has a -16.8% allocation to financing through leverage.

The RFP is available on the state's procurement website. Proposals are due by June 7. A selection is expected to be made at PennPSERS' August board meeting, said Ms. Williams.