Platte River Power Authority, Fort Collins, Colo., is searching for an investment consultant for its $105 million defined benefit plan, said Julie Depperman, director of treasury services.
The authority has issued an RFP because it has been more than seven years since the services were last put up for bid, Ms. Depperman said. The authority is open to bids from firms offering either traditional non-discretionary investment consulting services or outsourced chief investment officer services.
Innovest Portfolio Solutions, which currently offers non-discretionary services, is invited to rebid, she said.
The DB plan's target allocation is: 15% real estate; 14% each, domestic large-cap equities and liquid low-correlated hedge strategies; 12% international equities; 8% core fixed income; 7% each, floating-rate corporate loans and master limited partnerships; 6% domestic small/midcap equities; 5% each, private equity and reinsurance; 4% emerging markets equities; and 3% commodities.
The RFP is available on the power authority's website. Proposals are due at 3 p.m. MDT on July 12. Finalist presentations to the authority's retirement committee will take place on Aug. 29, with a decision expected shortly thereafter.