Arapahoe County Retirement Plan, Centennial, Colo., will search for an investment consultant in 2023, said Lew Quigley, retirement plan administrator.
An RFP was originally to be issued in early 2022 because of the expiration of current consultant Ellwood Associates' contract. But the board elected to delay the process due to the upcoming acquisition of Ellwood by CAPTRUST Financial Advisors.
The board is giving Ellwood an opportunity for the acquisition to be completed before going through the RFP process.
The $388 million pension fund will issue the RFP on Jan. 1, 2023. A decision will be made by April 30, 2023.
The board took the action at its Aug. 25 meeting.
The pension fund originally hired Ellwood Associates in 2017 following an RFP process that took place after the firm acquired Watershed Investment Consultants, which had been the pension fund's investment consultant since 1998.
As of Aug. 31, the pension fund's actual allocation was 53.2% public equities, 15% floating-rate debt, 14.5% real estate, 9.7% fixed-rate debt, 5.9% private equity, 1.5% cash and 0.2% low-volatility assets.
The county posts RFPs on the Rocky Mountain E-Purchasing System.
