Seattle City Employees' Retirement System will launch a search for an investment consultant on Jan. 17.
The $3.7 billion pension fund will issue an RFP because current consultant NEPC's contract will expire on June 30, said Jason Malinowski, chief investment officer. The firm will be encouraged to rebid, he said.
As of Sept. 30, the pension fund's actual allocation was 45.2% public equities, 18.2% core fixed income, 14.1% private equity, 12.2% real estate, 7.3% credit fixed income, 2.8% infrastructure and the rest in cash/other.
The target allocation is 48% public equities, 18% core fixed income, 12% real estate, 11% private equity, 7% credit fixed income and 4% infrastructure.
The RFP will be posted on the city's procurement website on Jan. 17. Proposals will be due sometime in February, and the pension fund's investment committee is scheduled to make a selection on May 30, pending board approval.
