Oklahoma Teachers' Retirement System, Oklahoma City, selected Aon as its new investment consultant effective July 1, the pension fund's executive director Tom Spencer said in an email.
The board unanimously selected Aon after interviewing Aon and two other finalists — Callan and Meketa — at a special meeting Tuesday.
Mr. Spencer said in an email that the board was impressed with Aon's presentation and that the firm seemed to have studied the issues facing the pension fund in depth. "With these three firms to choose from," he said, "we couldn't have made a wrong decision."
The $20.2 billion pension fund issued an RFP for an investment consultant Nov. 24. The contract for the current investment consultant, AndCo Consulting, is set to expire June 30.
AndCo Consulting, which was invited to rebid, did not respond to voice and email messages seeking comment on the selection.