Newport News (Va.) Employees' Retirement Fund is searching for an investment consultant, said Sonja Eubank, city procurement administrator, in an email.
The $953 million pension fund issued an RFP due to the June 30 contract expiration of current consultant Dahab Associates. The firm, which has been the city's investment consultant since 1986, is invited to rebid. The chosen consultant would also provide services for the city's $32 million other post-employment benefits trust.
As of June 30, the pension fund's actual allocation was: 24.1% domestic large-cap equities, 15.9% domestic midcap equities, 13.1% domestic small-cap equities, 12.8% international equities, 12.3% fixed income, 8% timber, 4.4% real estate, 4.2% private equity, 3.8% emerging markets equities and 1.4% cash.
The RFP is available on the state of Virginia's procurement website. Registration is required. Proposals are due at 5 p.m. EST on Jan. 24. A timeline for a decision was not provided.