Fresno County (Calif.) Employees' Retirement Association will launch a search on Nov. 3 for a non-discretionary general investment consultant.
The $6 billion pension fund is issuing an RFP due to its policy of putting the services up for bid every five years, said Donald Kendig, retirement administrator, in an email.
In a memo to the pension fund's board provided by Kendig, he said the RFP will be sent to current consultant Verus, as well as Aon Investments USA, Meketa Investment Group, NEPC and RVK. The search will also be open to all qualified consultants, he said.
As of June 30, the pension fund's actual allocation was 28% domestic equity, 20.9% global fixed income, 19.6% international equity, 8.9% real estate, 8.2% private equity, 7.4% private credit, 4.9% infrastructure, 1.4% cash and equivalents, and 0.7% other.
The target allocation is 29% domestic equities, 22% global fixed income, 21% international equities, 8% each private credit, private equity and private credit and 4% infrastructure.
The RFP will be posted on Nov. 3 on the pension fund's website. Proposals will be due at 5 p.m. PST on Jan. 2. A selection is scheduled for March 20.