Tulare County Employees' Retirement Association, Visalia, Calif., has narrowed down the finalists for its investment consultant search to three firms.
At its Thursday meeting, the $1.6 billion plan authorized due diligence inspections of Verus Advisory, Meketa Investment Group and NEPC, Leanne Malison, retirement administrator, confirmed in an email.
The board approved issuing the RFP in September because Verus has been the plan's investment consultant for 10 years.
The plan has a target asset allocation of 27% fixed income, 25% domestic equities, 20% real assets, 15% international equities, 5% each private equity and private credit, and 3% global equities.
There currently is no timeline for selection, Ms. Malison said.