SEARCHES AND HIRES

L.A. County looking for emerging private equity manager

Los Angeles County Employees Retirement Association, Pasadena, Calif., is searching for an emerging private equity manager, according to an RFP on the $48 billion pension fund’s website.

The pension fund is seeking a firm to manage a separate account totaling up to $200 million as part of its emerging manager program within its $4.6 billion private equity portfolio.

The emerging manager program was created “to provide LACERA exposure to smaller, lesser-known firms and in some cases first-time funds whose general partners acquired their experience working at more established firms,” according to the RFP, defining those managers as “first, second, or third institutional funds with capital commitments below $750 million for buyout funds and below $300 million for venture capital funds.”

Proposals are due at 3 p.m. PDT on April 14. A selection is tentatively scheduled for Sept. 13.

Christopher J. Wagner, principal investment officer, could not be immediately reached to provide further information.