Milwaukee County Employees' Retirement System plans to search for an investment consultant in 2020.
The $1.7 billion pension fund will issue an RFP during the year due to the impending expiration of current consultant Marquette Associates’ contract on Dec. 31, said Erika Bronikowski, interim director-retirement plan services.
The firm will be invited to rebid, Ms. Bronikowski said. A timeline for the search has yet to be determined.
As of Oct. 31, the pension fund's actual allocation was: 22.6% domestic equities; 21.4% fixed income; 13.7% international equities; 11.7% private equity; 10.6% real estate; 9.5% infrastructure; 8.3% hedged equity; and 2.2% cash.
The target allocation as of that date was: 23% each, domestic equities and fixed income; 15.5% international equities; 10% each, infrastructure, private equity and real estate; and 8.5% hedged equity.
The RFP will be posted on the county's procurement website.