As previously reported by IMMP, the Board at the $2.7 billion fund discussed authorizing the release of the RFP earlier this month.
The Bakersfield, Calif.-based plan allocates its assets as follows: 22.5% each to domestic and international equities, 23% core fixed-income, 15% real assets, 10% to global private equities and absolute return, 4% high yield fixed-income and 3% cash, according to the RFP.
Additionally its manager roster includes PIMCO, BlackRock, Mellon Capital Management, Neuberger Berman, Pyramis Global Advisors, Pantheon Ventures and Blackstone Alternative Asset Management.
When KCERA first began discussing the search, Wilshire declined to comment on the matter. Additionally, Anne Holdren, executive director at KCERA, did not respond to inquiries by IMMP’s deadline. Tom Iannuccii, president of Cortex Applied Research in Toronto, the firm that is helping the plan conduct the search, also did not reply to a request for further information.
Meanwhile, firms interested in applying for the advisory role should submit proposals by April 8. Following this, the Board will select finalists at its May 18 meeting, this according to the RFP. The selected firm’s contract will begin July 1.