Philadelphia Board of Pensions and Retirement rehired Marquette Associates as general investment consultant for the $8.4 billion Philadelphia Public Employees Retirement System.
The board approved the hiring at its July 30 meeting, recently released meeting minutes showed.
The board issued an RFP in March to comply with a city ordinance requiring the services be put up for bid periodically, CIO Christopher DiFusco said at the time.
The other finalist was Verus Advisory.
As of June 30, the actual allocation was 30% domestic equities, 22.7% international developed markets equities, 11.9% each investment-grade fixed income and private assets, 5.8% cash, 4.8% infrastructure, 4.4% open-end real estate, 3.5% opportunistic fixed income, 3% emerging markets equities, 1% public real estate, 0.5% private real estate and the rest in absolute return.
The target allocation is 24% domestic equities, 21% investment-grade fixed income, 20% international developed markets equities, 12% private assets, 7% open-end real estate, 5% infrastructure, 4% cash, 3% opportunistic fixed income, 2% emerging markets equities, and 1% each private real estate and public real estate.
