Gainesville (Fla.) Consolidated Police Officers' and Firefighters' Retirement Plan has launched a search for a non-discretionary or partially discretionary investment consultant, said William D. Johnston, chief investment officer for the city, in an email.
The $300 million pension fund issued an RFP because it has been 10 years since the services were put up for bid and the board is interested in evaluating multiple consultants, Mr. Johnston said.
Current consultant Willis Towers Watson, which offers partial discretionary services, is invited to rebid. Proposals will be accepted for both partial discretionary and non-discretionary services, he said.
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.
The RFP is available on the DemandStar procurement website. Registration is required. Proposals are due at 3 p.m. EDT on Sept. 1. Finalist presentations, if necessary, will take place Nov. 15, with a selection made by the end of the year.