Merced County (Calif.) Employees' Retirement Association rehired Meketa Investment Group as general investment consultant.
The $1.1 billion pension fund's board approved the hiring at its Dec. 14 meeting, recently released meeting minutes showed.
The pension fund issued an RFP in September due to the pending expiration of Meketa's contract, said Kristen Santos, retirement plan administrator, at the time.
The minutes said four firms bid for the services and there were no finalists.
As of Sept. 30, the pension fund's actual allocation was 22.3% domestic equities, 14.5% private equity, 12.2% hedge funds, 11.3% international equities, 10.1% domestic fixed income, 7.6% real estate, 7.1% emerging markets equities, 6.1% real assets, 4.3% direct lending, 3.3% opportunistic credit 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.
