Iowa Public Employees' Retirement System, Des Moines, hired Kalytix Partners to provide internal investment management consulting services for the $32.1 billion pension plan, confirmed spokeswoman Judy Akre.
The RFP was issued in April because IPERS wanted help evaluating options for managing assets in-house. All assets currently are run by external money managers, according to the RFP.
Investment staff is looking into building an internal global macro investment team and then growing that team for different asset classes depending on the success of the initial team, the RFP said.
Funston Advisory Services and C&A Consulting were the other finalists.
As of Dec. 31, IPERS' asset allocation targets were 27% core plus fixed income, 22% domestic equities, 15% international equities, 11% private equity, 7.5% private real assets, 7% public real assets, 3.5% public credit, 3% each global smart beta equities and private credit, and 1% cash.
