Fairfax County Educational Employees' Supplementary Retirement System, Falls Church, Va., is searching for an investment consultant.
The $3.3 billion pension fund is seeking proposals from investment consultants that can provide advice regarding investment management to its board, according to an RFP posted on its website.
The RFP did not provide a reason for the search or whether current consultant Segal Marco Advisors is invited to rebid.
At the pension fund’s Sept. 20 board meeting, Executive Director Ryk Tierney informed the board an RFP was imminent but did not provide further information, according to meeting minutes. Tierney could not be immediately reached for further information.
As of Aug. 31, the actual allocation was 23.6% domestic fixed income, 11.6% domestic large-cap equities, 10.5% private equity, 8.3% each hedge funds–opportunistic and real estate, 6.1% domestic small-cap equities, 4.7% international equities, 4.2% each emerging markets equities and multiasset class solutions, 4.1% international small-cap equities, 3.1% Treasury inflation-protected securities, 2.9% global equities, 2.8% private debt, 2.1% infrastructure, 2% emerging markets debt, 0.9% natural resources and the rest in cash.
The long-term target allocation is 24% domestic fixed income; 11% domestic large-cap equities; 7% each private equity and real estate; 6% domestic small-cap equities; 5% each emerging markets equities, hedge funds–opportunistic, international equities, international small-cap equities and natural resources; 4% each multiasset class solutions, private debt and TIPS; 3% each global equities and infrastructure; and 2% emerging markets debt.
The RFP is available on the pension fund’s website. Proposals are due by 5 p.m. EST on March 7. Finalist presentations and a selection are expected on May 9.
