Ohio Public Employees Retirement System, Columbus, will begin a search for at least one investment consultant within the next two months, said Michael Pramik, OPERS spokesman, in an email.
The $97.5 billion retirement system, which includes $85.8 billion in defined benefit plan assets, will issue an RFP in response to the pending expirations of the contracts of current general investment consultant NEPC and current alternatives consultant Aon Investments USA on April 30, 2021.
Mr. Pramik said it is not known at this time precisely which services will be requested for the RFP. A current proposed timeline for the RFP includes an issuance date of Aug. 28, but Mr. Pramik said that date could be adjusted.
He would not say whether the current consultants would be invited to rebid since the nature of the services to be requested has yet to be determined.
As of May 31, the DB plan's actual allocation was: 21.4% domestic equities; 21.1% international equities; 11.9% private equity; 11.3% core fixed income; 10.4% real estate; 5.8% emerging markets debt; 4.4% hedge funds; 4.3% risk parity; 2.4% U.S. Treasuries; 2.1% Treasury inflation-protected securities; 2% high yield; 1.1% securitized debt; and the rest in cash/other and commodities.
The target allocation of the DB plan is: 21% each, domestic equities and international equities; 12% private equity; 11% core fixed income; 10% real estate; 6% emerging markets debt; 5% each, hedge funds and risk parity; 3% U.S. Treasuries; 2% each, high yield and TIPS and 1% each, commodities and securitized debt.
The retirement system posts RFPs on its website.
