Trustees approved NEPC to replace current consultant Aon Hewitt Investment Consulting at a meeting Wednesday. NEPC's six-year contract will begin Jan. 1, ERS spokeswoman Mary Jane Wardlow said in an email.
Also approved was the hiring of CBRE Caledon Capital Management as consultant for the fund's infrastructure portfolio, which has a target weighting of 2%, or about $580 million of plan assets. CBRE Caledon replaces Pavilion Alternatives Group.
CBRE Caledon was awarded a six-year contract, which begins Jan. 1.