San Francisco City & County Employees' Retirement System hired Wilshire Advisors as general investment consultant.
The $33.2 billion pension fund's board approved the hiring at its meeting Thursday, spokesman Stephen Worsfold said in an email.
SFERS issued an RFP in November due to the pending expiration of current consultant NEPC's contract. NEPC was eligible to rebid, but Mr. Worsfold would not say whether the firm did so. According to a memo included with board meeting materials, there were a total of three bidders for the services. Verus Advisory was the other finalist.
The pension fund had also issued an RFP in November for a public markets investment consultant. NEPC was the incumbent for those services as well, and the board in April selected Mercer.
As of April 30, the pension fund's actual allocation was 31.3% public equities, 30.4% private equity, 15.7% real assets, 9.3% absolute return, 7.5% private credit, 3.2% liquid credit, 2.5% U.S. Treasuries and 0.1% cash.
The pension fund's target allocation is 37% public equities; 23% private equity; 10% each absolute return, private credit and real assets; 8% U.S. Treasuries and 5% liquid credit. The pension fund's target allocation also has a leverage offset that includes gross synthetic exposure, cash collateral and credit facilities.
