Platte River Power Authority, Fort Collins, Colo., hired Russell Investments as outsourced CIO for its $116 million defined benefit plan, according to an award notice posted Jan. 22 on the BidNet Direct procurement website.
The utility issued an RFP in June. According to a Q&A document posted with the RFP, incumbent consultant Northern Trust Asset Management was invited to rebid, but the utility did not provide further information on whether the firm did so. Officials there could not be immediately reached for further information.
The pension plan’s target allocation is 26% domestic large-cap equities; 16% international equities; 10% core fixed income; 8% domestic small-cap equities; 7% each high-yield fixed income and long-duration fixed income; 6% each emerging markets equities and private equity; 4% private credit; 3% each global real estate, infrastructure and natural resources; and 1% cash.
