San Francisco City & County Employees' Retirement System named Meketa Investment Group and Mercer as finalists in its search for a public markets investment consultant.
The $33.4 billion pension fund's board approved the selection of finalists at its March 16 meeting, spokesman Stephen Worsfold said in an email.
SFERS issued an RFP in November due to the pending expiration of current consultant NEPC's contract. NEPC was eligible to rebid, but Mr. Worsfold would not say whether the firm did so. According to a memo included with board meeting materials, there were a total of three bidders for the services.
Staff will make a final recommendation at the board's April 20 meeting, and a selection is scheduled to take place at that time.
As of Feb. 28, SFERS' actual allocations to public equities and liquid credit were 31.2% and 3.2%, respectively; their respective targets are 37% and 5%.