Key Takeaways
- • CalSTRS, the $352.5bn California State Teachers' Retirement System, will review a request for proposals to hire a new general investment consultant at its January 8 investment committee meeting, per the meeting materials.
- • The search follows the expiration of Meketa's contract on June 30; Meketa has been the sole consultant since 2018.
- • If approved, the new consultant contract would start July 1 and finalists would be presented to the investment committee in March.
- • The contract may run a flat three years, a flat five years, or three years with two one-year extension options.
- • The consultant will handle manager search and selection, performance analysis, asset-liability projects and other fiduciary work.
Summary
The investment committee of the California State Teachers' Retirement System (CalSTRS), which manages $352.5bn, is set to review a request for proposals (RFP) for a general investment consultant at its January 8 meeting, according to the article by Muskan Arora. The review follows the expiration of the contract held by Meketa on June 30. Meketa has been the pension plan's sole consultant since 2018, after serving as co-consultant alongside Pension Consulting Alliance as lead consultant from 2013.
If the committee approves the issuance, CalSTRS will launch the RFP with a new contract beginning July 1. Finalists would be presented to the investment committee in March. The contract term under consideration is either a flat three years, a flat five years, or five years structured as a three-year contract with two one-year extension options, as stated in the meeting materials. The item has been placed on the consent agenda, meaning it would proceed unless the committee chooses to pull it for discussion, per the meeting materials.
The selected consultant will be responsible for manager search and selection, performance analysis, asset-liability projects and other fiduciary work. The article notes the pension's asset allocation as of November 30, 2024: 41.2% public equity, 15.3% private equity, 13.1% real estate, 12% fixed income, 7.9% risk mitigation, 6.5% inflation-sensitive assets, 2.1% cash, 1.7% collaborative strategies and 0.1% strategic overlay.
If the committee approves the issuance, CalSTRS will launch the RFP with a new contract beginning July 1. Finalists would be presented to the investment committee in March. The contract term under consideration is either a flat three years, a flat five years, or five years structured as a three-year contract with two one-year extension options, as stated in the meeting materials. The item has been placed on the consent agenda, meaning it would proceed unless the committee chooses to pull it for discussion, per the meeting materials.
The selected consultant will be responsible for manager search and selection, performance analysis, asset-liability projects and other fiduciary work. The article notes the pension's asset allocation as of November 30, 2024: 41.2% public equity, 15.3% private equity, 13.1% real estate, 12% fixed income, 7.9% risk mitigation, 6.5% inflation-sensitive assets, 2.1% cash, 1.7% collaborative strategies and 0.1% strategic overlay.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.