Newport News Employees picks Meketa as investment consultant

Newport News (Va.) Employees' Retirement Fund hired Meketa Investment Group as investment consultant, said Sonja Eubank, city procurement administrator, in an email.

The $953 million pension fund issued an RFP in December due to the impending expiration of incumbent consultant Dahab Associates' contract on June 30.

Dahab was a finalist, along with NEPC and RVK.

As of June 30, 2018, the most recent data available, 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.