Cincinnati Retirement System will launch a search for an investment consultant at the end of January or beginning of February.
The $2.1 billion pension fund will issue an RFP due to the upcoming expiration of current consultant Marquette Associates' contract, said Michael Barnhill, executive director, in an email.
The firm will be eligible to rebid, Mr. Barnhill said.
As of Sept. 30, the pension fund's actual allocation was 27.6% domestic equities, 17.6% international equities, 13.7% fixed income, 12.4% infrastructure, 11.7% private equity, 10.2% real estate, 2.5% volatility risk premium, 2.3% risk parity, 1.2% private debt and the rest in cash equivalents.
The target allocation is 30.5% domestic equities, 20% international equities, 14% fixed income, 10% each infrastructure and private equity, 7.5% real estate, 3% private debt and 2.5% each risk parity and volatility risk premium.
Mr. Barnhill could not immediately provide further information on where the RFP would be posted. Past RFPs have been posted on the city's office of procurement website.
Mr. Barnhill said the pension fund hopes to make a selection by the end of 2023, ideally no later than the third quarter.