Miami Fire Fighters' and Police Officers' Retirement Trust hired Meketa Investment Group as investment consultant, said Dania L. Orta, administrator, in an email.
The $1.6 billion pension fund issued an RFP in February because the board felt a fiduciary responsibility to put the services up for bid after 20 years of working with incumbent consultant Milliman, Ms. Orta said.
Milliman was a finalist, along with AndCo Consulting and Segal Marco Advisors.
The pension fund's asset allocation as of Sept. 30, 2018, the most recent data available, was: 18.7% each, core fixed income and international equities; 15.9% domestic large-cap equities; 12.6% real estate; 6.3% domestic small-cap equities; 5% high-yield fixed income; 4.9% absolute return; 4.8% private equity; 4.6% domestic midcap equities; 4.2% cash; 2.3% bank loans; and 2% infrastructure.
