Merced County (Calif.) Employees' Retirement Association is searching for an investment consultant.
The $1.1 billion pension fund issued an RFP due to the expiration of the contract with current consultant Meketa Investment Group, said Kristen Santos, retirement plan administrator.
The firm is invited to rebid, Santos said.
As of June 30, the actual allocation was 24.1% domestic equities, 13.6% private equity, 11.6% international equities, 11.3% hedge funds, 10.5% domestic fixed income, 7.7% real estate, 7.5% emerging markets equities, 5.8% real assets, 4% direct lending, 3.3% opportunistic fixed income and the rest in cash.
The target allocation is 22% domestic equities, 15% private equity, 11% each domestic fixed income and international equities, 10% hedge funds, 8% each emerging markets equities and real estate, and 5% each direct lending, opportunistic credit and real assets.
The RFP is available on the county's procurement website. Registration is required. Proposals are due at 2 p.m. PDT on Oct. 6. A selection will be made before the end of the year, Santos said.