City of Austin hires RVK as investment consultant
The $2.2 billion City of Austin Employees’ Retirement System has hired RVK as investment consultant. The contract became effective on July 1 and will run for an initial term of three years plus two potential extensions of two years each.
RVK replaces Summit Strategies Group, which had been the pension fund’s investment consultant since 1999.
The decision was made after an RFP was issued in September 2016. There were 14 proposals received in response to the RFP, Summit Strategies among them. Callan Associates was the other finalist with RVK.
“We look forward to working with RVK and as we continue to evaluate the important aspects of our investment strategy, including our investment beliefs, asset allocation approach, and tolerance for risk,” said Mike Benson, trustee and chair of the board’s investment committee.