Gainesville (Fla.) Consolidated Police Officers' and Firefighters' Retirement Plan will launch a search for an investment consultant in late June or early July, said William D. Johnston, chief investment officer for the city, in an email.
The $283 million pension fund's board approved the RFP at its May 24 meeting, Mr. Johnston said. Current consultant Willis Towers Watston, which currently provides partial discretionary services, will be invited to rebid. Mr. Johnston said proposals will be accepted from firms interested in offering partial discretionary and non-discretationary services.
The RFP will be posted on the city of Gainesville's procurement website on DemandStar. A specific timeline with proposal due dates has yet to be determined.
The pension fund's target allocation is 50% domestic equities, 20% international equities and 15% each alternative credit and real estate.
As of March 31, the actual allocation was 49% domestic equities, 19% international equities, 16% real estate, 15% alternative credit and 1% overlay.