Ohio Public Employees Retirement System, Columbus, issued an RFP seeking an investment consultant, confirmed Michael Pramik, spokesman for the $97.5 billion retirement system, in an email.
The retirement system has $85.8 billion in defined benefit plan assets.
The search is being conducted because the contracts for its two current investment consultants — NEPC as the general consultant, Aon Investments USA for alternatives — are set to expire April 30.
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 for 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.
Although both firms are invited to rebid, the board is looking to select only one consultant.
The RFP is available on the retirement system's website. Proposals are due 5 p.m. EDT Oct. 30. A selection is expected to be made on Feb. 16.