The Kern County (Calif.) Employees Retirement Association (KCERA) has renewed Verus Advisory as its general investment consultant, following an RFP issued in November 2021.
Five proposals were received as a result of the RFP and an internal RFP evaluation team was formed to individually review and score the proposals, according to a recent board meeting document. The responses were narrowed to a field of three candidate firms and ultimately it was found that the two non-incumbent applicants were unable to surpass the incumbent’s capabilities. After the due-diligence process, the evaluation team confirmed that Verus was the best-suited candidate.
Verus has been the plan’s general investment consultant for the past 12 years and has worked on numerous key initiatives during this period. The last RFP for general investment consulting services was issued in 2010.
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