San Bernardino County (Calif.) Employees' Retirement Association rehired NEPC as its investment consultant, confirmed Olivia Applegate, spokeswoman for the $12.6 billion pension fund.
The board selected the consulting firm at its July 1 meeting. Verus was the other finalist.
The new contract is for five years and will start Jan. 1, with the option to renew for an additional two years.
The RFP was issued in March because SBCERA's contract with NEPC was set to expire in December.
As of March 31, the pension fund had a target asset allocation of 16% private equity, 15% international equities, 13% each U.S. equities and U.S. credit, 11% non-U.S. credit, 8% emerging markets debt, 7% each real estate and absolute return, 5% real assets, 2% each U.S. core fixed income and cash, and 1% non-U.S. core fixed income.