Ohio Public Employees Retirement System, Columbus, hired Meketa Investment Group as its private alternatives due diligence consultant, spokesman Michael Pramik said in an email.
The $123.8 billion retirement system, which includes $109.3 billion in defined benefit plan assets, had issued an RFP in August due to the impending expiration of incumbent consultant Mercer's contract.
While invited to rebid, Mercer did not do so, Mr. Pramik said. He had no further information on finalists.
Ohio PERS' private alternatives due diligence consultant reports to the system's staff, not its board. NEPC serves as the board's general investment consultant, which includes alternative investment consulting services.
As of Dec. 31, the DB plan's actual allocations to private equity and real estate were 12.8% and 9.2%, respectively.
Separately, the retirement system hired Leading Edge Investment Advisors as a manager of women- and minority-owned equity managers, Mr. Pramik said. The system made an initial allocation of $200 million, he said.
Ohio PERS issued a request for information in March 2021 because it wanted to increase its exposure to women- and minority-owned managers. The system had no external managers of women- and minority-owned managers at the time. The portfolio is currently set to include managers of active international developed markets equities, emerging markets equities and active domestic small-cap equities.
Mr. Pramik had no further information on finalists.
