SACRAMENTO, Calif. – The California Public Employees’ Retirement System (CalPERS) will renew its contract with general consultant, Wilshire Associates.
The $153 billion pension at press time was negotiating the terms and fees for the evergreen deal. Wilshire has served as CalPERS general consultant for 17 years, and the firm’s current five-year, $3 million contract expires at the end of June, said CalPERS spokesperson Brad Pacheco.
As general consultant, the Pittsburgh and Santa Monica, Calif.-based Wilshire creates performance reports, monitors external managers and analyzes foreign countries as potential sites of investment for CalPERS.
Wilshire declined to comment about its relationship with the pension.
R.V. Kuhns & Associates of Portland, Ore., and Callan Associates of San Francisco also applied for the post.
CalPERS has formed a pool of consultants authorized to take on special assignments when the pension requires expert advice for specialized or technical investments. The pool includes Encino, Calif.-based Pension Consulting Alliance, which has a $1.1 million contract with CalPERS that expires in June, R.V. Kuhns & Associates and Strategic Investment Solutions of San Francisco. The three firms will bid on projects as they arise, Mr. Pacheco said.