Milwaukee City Employes' Retirement System is searching for an investment consultant.
The $5.3 billion pension fund issued an RFP because the contract of current consultant Callan will expire at the end of 2020, said David M. Silber, chief investment officer, in an email.
Callan is invited to rebid, Mr. Silber said.
As of Sept. 30, the pension fund's actual allocation was 25% fixed income, 20.7% domestic equities, 16.5% international equities, 10.9% real assets, 9.8% absolute return, 9.1% global equities and 8% private equity.
The target allocation is 47% public equities, 25% fixed income, 11% real assets, 9% absolute return and 8% private equity.
The RFP is available on the pension fund's website. Proposals are due at 2 p.m. CST on Dec. 23. A selection is expected sometime in March.