California-based pension extends contract with Callan
The $444 million Mendocino County (Calif.) Employees’ Retirement Association will extend its current investment consulting relationship for two years and issue an RFP for an investment consultant in June 2018. The contract with the pension plan’s current consultant, Callan Associates, expires at the end of 2016; however, the pension fund board voted to extend Callan’s contract for two years and issue the RFP in June 2018, according to spokesperson Judy Zeller in an email. Callan is expected to be invited to rebid in 2018. The RFP, when available, will be posted on the pension fund’s website. Mendocino County’s real estate portfolio focuses on core investments in CBD office, hotel, industrial, multifamily and retail markets. The pension fund has a target allocation to real estate of 11 percent.