Jacksonville (Fla.) Police & Fire Pension Fund approved the rehiring of RVK as investment consultant.
The $2.8 billion pension fund’s board approved the action at its Nov. 20 meeting, a webcast of the meeting showed.
The pension fund issued an RFP in September due to the upcoming expiration of RVK’s contract in December, said Timothy Johnson, executive director, at the time.
The hiring is pending contract negotiations, and the board voted to name Segal Marco Advisors, one of the finalists in the RFP process, as the backup consultant in the event an agreement cannot be reached.
The other finalists were Marquette Associates, NEPC and Wilshire Advisors.
The pension fund’s target allocation is 37% domestic equities, 20% each international equities and fixed income, 10% real estate, 8% private investments and 5% real assets.
