CMERS begins search for new investment consultant

The US public pension looks to have a replacement investment consultant by 1 January 2021.

Institution: City of Milwaukee Employees’ Retirement System
Headquarters: Milwaukee, United States
AUM: $5.34bn
Allocation to alternatives: 25.38%
Bitesize: $50-100m

City of Milwaukee Employees’ Retirement System issued an RFP welcoming firms to submit proposals to become CMERS’ next investment consultant. The pension’s current investment consultant is Callan Associates.

Among the services that ERS will require of its new consultant are conducting asset/liability studies, searching, selecting and overseeing investment managers and other investment-related vendors, evaluating and reporting on performance, attending all investment committee meetings and educating the ERS Board and staff on issues related to investments.

As illustrated in the charts below, the $5.34 billion public pension allocates 25.38 percent of its investment portfolio to alternative assets. Mr. David Silber is the current Chief Investment Officer.

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