SEARCHES AND HIRES

LACERS earmarks $10 million for growth equity fund

Los Angeles City Employees' Retirement System committed up to $10 million to SG Growth Partners IV, a growth equity fund managed by Stripes Group, according to a memo for the board's March 24 meeting from Portfolio Advisors, LACERS' private equity consultant.

LACERS previously committed $10 million to SG Growth Partners III.

The new fund will focus on internet, software, health-care information technology and consumer products companies.

Separately, LACERS has launched a request for qualifications seeking board governance consulting services. LACERS expects to use the RFQ to create a roster of prequalified firms available to provide governance consulting services on an as-needed basis.

“In the coming year, LACERS anticipates the retirement of one or more key personnel in leadership roles within the organization,” the RFQ said. “The board wishes to retain an experienced consultant(s) to advise and facilitate a successful transition.”

Among the services expected to be provided by the governance consultant are board education and training, as well as succession planning and executive coaching.