Contra Costa County Employees’ Retirement System, Concord, Calif., is searching for general and private markets investment consultants.
The $12 billion pension fund issued an RFP due to its changing needs and the changing market environment since the services were last put up for bid, said Christina Dunn, CEO of the pension fund.
General consultant Verus Advisory has been in place since April 2015 and private markets consultant StepStone Group since August 2017, Dunn said. Both are invited to rebid.
The pension fund has a target allocation of 70% growth, 17% liquidity, 8% risk diversifying and 5% cash.
Within the 70% growth target, the pension fund has subportfolio targets of 50% of the whole portfolio to equities (both public and private), 13% to credit (both public and private) and 7% to real estate.
The RFP is available on the pension fund’s website. Proposals are due by 5 p.m. PST on Jan. 31. The pension fund hopes to make selections by June, Dunn said.
