Meketa Investment Group will be the general investment consultant for the $31.5 billion Connecticut Retirement Plans and Trust Funds, state Treasurer Denise Nappier announced Wednesday.
Subject to contract negotiations, Boston-based Meketa is expected to begin advising the funds in July. Connecticut Treasury officials chose Meketa from a pool of firms that responded to a request for proposals.
Meketa will replace Aon Hewitt Investment Consulting, which had held the role since 2011.
Aon Hewitt will continue as the investment consultant for the Connecticut Higher Education Trust, Connecticut’s 529 college savings program. Nappier is a trustee of CHET.
Meketa has more than 150 clients with aggregate assets of more than $900 billion.
“They’ve been on our radar screen for a while,” said Nappier.
The state Treasury’s Investment Advisory Council unanimously supported Meketa, she said, after its presentation to the council.
Nappier cited Meketa’s expertise in asset allocation and optimization, which enables the firm to assess risk more thoroughly through such proprietary tools such as risk budgeting, scenario analysis, tracking error analysis and high dimension optimization.
