Platte River Power Authority, Fort Collins, Colo., has hired Northern Trust Corp. as investment consultant for its $105 million defined benefit plan, an award notice posted on the power company's website says.
The authority issued an RFP in June because it had been more than seven years since the services were last put up for bid, Julie Depperman, director of treasury services, said at the time.
She said incumbent consultant Innovest Portfolio Solutions was invited to rebid; whether the firm did so could not be immediately learned.
The DB plan's target allocation is: 15% real estate; 14% each, domestic large-cap equities and liquid low-correlated hedge strategies; 12% international equities; 8% core fixed income; 7% each, floating-rate corporate loans and master limited partnerships; 6% domestic small/midcap equities; 5% each in private equity and reinsurance; 4% emerging markets equities; and 3% commodities.
Ms. Depperman was not immediately available to provide further information.
