Jacksonville (Fla.) City Retirement System hired RVK as its investment consultant, Joey Greive, the city's director of finance and administration and chief financial officer, said in an email.
The $2.4 billion pension fund issued an RFP in September because the public pension fund business of its incumbent consultant, Summit Strategies Group, was being purchased by AndCo Consulting. That transaction closed in mid-November, and the duties are currently covered by two CFA charterholders on Mr. Greive's staff.
As of July 31, the actual allocation of the pension fund was 27.1% domestic large-cap equities, 23.2% international equities, 17.7% fixed income, 15.2% real estate, 9.8% domestic small-cap equities, 6.6% diversifying assets and 0.4% cash.
Targets are 22% domestic large-cap equities; 20% each fixed income and international equities; 15% each diversifying assets and real estate; and 8% domestic small-cap equities.