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The $478m Firemen’s Retirement System of St. Louis has issued an RFP seeking an investment consultant, with the goal of choosing a firm by March 2019.
The retirement system has a target allocation to hedge funds of 10%. An actuarial report from 30 September 2017, the most recent available, showed an actual allocation of 17.3%, or roughly $83.5m based on the $484.4m fair market value of all investments at the time.
AJO Partners managed $34.4m in an emerging markets fund, EnTrustPermal managed $22.3m in a multi-strategy fund and Magnitude Capital managed $26.8m in a multi-strategy fund.
Responses to the RFP are due by 3 pm Central Time on 18 January 2019. Finalists will be notified in February with presentations and selection to follow in March, according to a timeline in the RFP, can be found here.
It was unclear at press time who the incumbent consulting firm is. Executive director John Brewer did not immediately return a call seeking comment.
St. Louis firefighters launch consultant search on HFM InvestHedge.
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