Gainesville (Fla.) Consolidated Police Officers' and Firefighters' Retirement Plan named AndCo Consulting, Graystone Consulting and Segal Marco Advisors as finalists in its search for an investment consultant.
The $300 million pension fund's board has scheduled finalist presentations for its upcoming Jan. 24 meeting, said William Johnston, chief investment officer for the city.
The pension fund issued an RFP in July because it has been 10 years since the services were put up for bid and the board was interested in evaluating multiple consultants, Mr. Johnston said at the time. Current consultant Willis Towers Watson did rebid for the services and ranked in the top five candidates, Johnston said. The board does have the option of rehiring the firm following the finalist presentations, he said.
The board will make a selection shortly after the finalist presentations, and will have city staff and its attorney negotiate a service agreement with that firm, said Johnston.
The pension fund's target allocation is 50% domestic equities, 20% international equities, and 15% each alternative credit and real estate.
As of March 31, the actual allocation was 49% domestic equities, 19% international equities, 16% real estate, 15% alternative credit and 1% overlay.
