The Denver Employees Retirement Plan (DERP) has selected Cambridge Associates to serve as its outsourced chief investment officer (OCIO). In this role, Cambridge Associates will have full discretionary authority to manage DERP’s $3 billion investment portfolio in accordance with the investment policies established by the DERP Retirement Board.
The selection follows an 18-month evaluation led by the DERP Retirement Board and Executive Director Heather Darlington, with guidance from Mosaic Governance Advisors. After a comprehensive review of the OCIO marketplace, it was determined that the outsourced model best supports DERP’s long-term investment strategy and Cambridge Associates was selected as DERP’s investment partner.
The transition to an OCIO model follows the planned retirement of Chief Investment Officer Randall Baum, who will retire on October 1, 2026, after 18 years with DERP.
“We’re grateful to Randy for his 18 years of outstanding service and for providing ample time to prepare for a thoughtful transition,” said Darlington. “The OCIO model is a well-established approach used by institutional investors, and we’re confident that Cambridge Associates is the right partner to help position DERP for the future.”