Texas Employees Retirement System, Austin, hired Aksia, Albourne America and RVK as investment consultants.
The $40.7 billion pension fund announced on its procurement website that it had selected Aksia as its private equity, private infrastructure and private real estate consultant, Albourne America as its hedge fund consultant and RVK as its general investment consultant.
ERS issued a request for qualifications in April for investment consultants because the contracts of several incumbents were expiring, said David Veal, chief investment officer, at the time. Veal said all incumbents were invited to rebid.
Aksia was the incumbent private equity consultant, while CBRE Caledon Capital Management and Meketa Investment Group were the incumbent infrastructure consultant and real estate consultant, respectively. NEPC was the incumbent general investment consultant.
Finalist information was not available.
As of Jan. 31, the pension fund’s actual allocation was 35.4% public equities, 17% private equity, 10.4% rates, 9.7% private real estate, 7.3% public credit, 6.2% infrastructure, 5.1% hedge funds, 3.4% private credit, 2.8% cash, 2.2% public real estate and the rest in special situations.
The target allocation is 35% public equities, 16% private equity, 12% rates, 9% each private real estate and public credit, 6% hedge funds, 5% infrastructure, 3% each private credit and public real estate, and 2% cash.
