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The foundation has launched a search for its next cio to oversee its investment portfolio and team as its current investment head is set to work through the end of the calendar year then retire after a decade in the role.
The fund approved a new long-term strategic asset allocation for its endowments, increasing its private equity target 5% to raise expected returns and leverage the unique cash flow attributes of the portfolios.
The consultant will advise a deferred compensation board created by city council last year.
The pension plan’s investment committee approved a $75 million commitment to a middle market buyout strategy last week.
The new fiscal year 2024 asset allocation policy will increase the fixed-income targets for four of the plan’s systems.
The firm is announcing the changes, including the retirement of its president, in conjunction with its age 65 retirement policy.
The city is conducting a search for non-discretionary and discretionary services after launching a similar search in 2021.
The retirement system approved an emergency procurement for a general investment consultant in November.
Rose Dean joined investment consulting firm NEPC as a senior consultant this April after previously serving as a managing director with Wilshire.
The firm hired the senior v.p. of research and education to primarily cover private equity fund manager sourcing and diligence from an investment consulting firm, where they were a managing director focused on private assets.