Stanislaus County Employees' Retirement Association, Modesto, Calif., hired NEPC as investment consultant, said Stan Conwell, retirement investment officer.
The $2.1 billion pension fund issued an RFP earlier this year as part of its practice of putting the services up for bid every five years.
The other finalists were Callan and Meketa Investment Group. Current consultant Verus Advisory did rebid for the services, Mr. Conwell said.
As of May 31, the pension fund's actual allocation was: 21.2% international developed markets equities; 18.5% short-term government/credit fixed income; 15.7% domestic large-cap equities; 14.3% risk parity; 6.3% each, core real estate and private equity proxy; 4.7% value-added real estate; 4.3% private credit; 3.3% U.S. Treasuries; 2.9% domestic small-cap equities; 1.7% infrastructure; and 0.8% cash.