Hawaii Employees' Retirement System, Honolulu, has launched its search for a general investment consultant.
The $22 billion pension fund posted an RFP for the services on its website Tuesday.
In March, then-CIO Elizabeth T. Burton said an RFP would be posted later in 2022 due to the pending expiration of incumbent consultant Meketa Investment Group in 2023.
She said at the time that Meketa would be eligible to rebid. Ms. Burton left the pension fund on June 30.
Howard Hodel, acting CIO, could not be immediately reached for further information.
As of June 30, the actual allocation was 68% broad growth, 29.7% diversifying strategies and 2.3% other.
Hawaii Employees' Retirement System has targets of 67.5% to broad growth and 32.5% to diversifying strategies. The broad growth asset class is broken down into public growth, private growth and real assets. Diversifying strategies is broken down into liquid defensive, liquid diversifying and illiquid diversifying portfolios. Both liquid defensive and liquid diversifying portfolios include "alternative return capture" managers, categories that many funds define as either absolute return or hedge funds.
The RFP is posted on the pension fund's website. Proposals are due at 4:30 p.m. HST on Nov. 1. A selection is tentatively scheduled for March 13, 2023.
