New Orleans Sewerage & Water Board hired Marquette Associates as investment consultant of its $235 million defined benefit plan.
The board of trustees approved its pension committee's recommendation to hire Marquette at its Feb. 24 remote meeting, according to a video of that meeting.
The board issued an RFP for an investment consultant in January 2020. Incumbent consultant FFC Investment Advisors of Raymond James was invited to rebid. Whether the firm did so was not known.
A total of eight firms bid for the services, and all were interviewed, according to the meeting packet.
As of Dec. 31, the pension fund's actual allocation was 51.3% equities, 33.5% fixed income, 7.8% real estate, 7.3% alternatives, and 0.1% cash and equivalents.
Board officials could not be immediately reached for further information.