Connecticut State Treasurer Denise L. Nappier announced that Norwalk-based Aon Hewitt Investment Consulting has been replaced as the general investment consultant for the $31.5 billion Connecticut Retirement Plans and Trust Funds (CRPTF) by Westwood, Massachusetts-based Meketa Investment Group.
According to a statement issued by Nappier’s office, Meketa was “chosen from a pool of firms that responded to a request for proposals” and will begin advising the CRPTF in July. Aon Hewitt, which had been the CRPTF’s general investment consultant since 2011, will continue as the investment consultant for the Connecticut Higher Education Trust, the state’s 529 College Savings Plan.
“I commend Aon Hewitt for its expertise and the care in which it conducts business,” Nappier said. “The firm’s contributions have indeed furthered the soundness of our overall investment portfolio, and I am pleased that it will continue its association with the treasury. Now is the right time for a change as we re-examine our strategic asset allocation. Meketa is well poised to carry out the CRPTF’s mandates from a fresh perspective – an important attribute to investing prudently and continuing our strong investment returns going forward.”