Publications

Investors

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

San Diego County drops Townsend Group

by Andrea Waitrovich

The $11.4 billion San Diego County Employees Retirement Association’s board has terminated real estate consultant The Townsend Group.

Albourne Partners, the pension fund’s consultant for it hedge fund portfolio, and general investment consultant Aon Hewitt Investment Consulting will provide real estate consulting services.

The realignment of consulting services is expected to save SDCERA $280,000 per year, according to a memo by CIO Stephen Sexauer to the board recommending Townsend’s termination.

SDCERA’s total private asset allocation, which includes real estate, was 23 percent.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?