Baltimore County Employees’ Retirement System, Towson, Md., is searching for an investment consultant.
The $3.5 billion pension fund issued an RFP due to the upcoming expiration of current consultant NEPC's contract on June 30, 2025, said Robert Burros, the county's chief of treasury management. NEPC is eligible to rebid, he said.
As of March 31, the pension fund’s actual allocation was 26.8% domestic large-cap equities, 15.5% international developed markets equities, 12% core fixed income, 10.5% private equity, 8.3% domestic smidcap equities, 4.9% diversified fixed income, 4.5% real estate, 4.4% global asset allocation/risk parity, 3.6% emerging markets equities, 3.5% bank loans, 2.9% each private debt and Treasury inflation-protected securities and the rest in cash.
The target allocation is 24% domestic large-cap equities; 14% international developed markets equities; 13% core fixed income; 9% each domestic smidcap equities and private equity; 7% real estate; 5% each diversified fixed income, GAA/risk parity and private debt; and 3% each bank loans, emerging markets equities and TIPS.
The RFP is available on the county’s website. Proposals are due by 2 p.m. EDT on Sept. 13. Burns said the county hopes to make a selection by the end of the year.
