D.C. doubles down on Meketa as investment consultant

District of Columbia Retirement Board rehired Meketa Investment Group as its investment consultant.

The board approved the rehiring of Meketa at its May 19 meeting, recently released meeting minutes show.

The board had issued an RFP in October. Finalist information was not available.

The board’s target allocation is 24% fixed income, 20% domestic equities, 16% international developed markets equities, 15% real estate/infrastructure/natural resources, 10% emerging markets equities, 9% private equity, 3% private debt, 2% absolute-return strategies and 1% cash.

Separately, the board at the May 19 meeting also approved commitments of up to $100 million each to Carlyle Property Investments, an open-end core-plus real estate fund managed by Carlyle Group, and Fortress Lending Fund III, a private credit fund managed by Fortress Investment Group.

The board oversees the investment management of the District of Columbia Police Officers and Fire Fighters’ Retirement Plan, and the District of Columbia Teachers’ Retirement Plan, which have a combined $11 billion in assets.

Gianpiero “J.P.” Balestrieri, the board’s executive director, could not be immediately reached for further information.

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