Kern County Employees seeks general investment consultant

The $5.4 billion Kern County (Calif.) Employees’ Retirement Association (KCERA) has launched an RFP for general investment consultant services.

The general investment consultant will assist in overseeing the portfolio’s investment strategy, including goals, objectives and constraints; asset allocation and portfolio construction; investment analysis and research; provide support with data, systems, tools and quantitative methods; risk management; performance reports; and other related investment activities.

IREI understands that it has been about a decade since the services were put up for bid. The current consultant Verus Advisory will be allowed to rebid.

The deadline to submit proposals is Jan. 7, 2022.

As of Sept. 30, KCERA’s real estate portfolio was valued at $285 million, with a 5.3 percent allocation to the asset class. The private real estate portfolio was valued at $75 million and had a 1.4 percent allocation target. In addition, KCERA had