Fairfax County Educational Employees' Supplementary Retirement System, Falls Church, Va., will soon begin a search for an investment consultant.
The $3.3 billion pension fund will issue an RFP for an investment consultant in the “coming months,” said Ryk Tierney, executive director, in minutes for the pension fund’s Sept. 20 board meeting.
The minutes did not say whether current consultant Segal Marco Advisors will be invited to rebid. 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 pension fund's RFPs are typically posted on the Fairfax County Public Schools procurement portal.
