SEARCHES & HIRINGS
The Los Angeles Fire & Police Pension System will issue an RFP for an alternative investment consultant in the next 30 to 60 days, said Gary Mattingly, general manager of the $6.5 billion fund.
The consultant will help choose alternative asset classes and screen the vehicles for approximately $180 million allocated to alternatives.
In addition, the fund hired Boston Partners Asset Management to manage a $500 million core value equity allocation. The assets were part of an allocation of $650 million previously managed by Boston Co. Asset Management, which was terminated when several managers left to start Boston Partners. Watson Wyatt Worldwide assisted.
The $1.9 billion Michigan Municipal Employees' Retirement System, Lansing, hired ARM Capital Advisors, Western Asset Management and Reams Asset Management. Each will manage $165 million in domestic fixed income, said a spokeswoman for the fund. They replace two other fixed-income managers for the fund, CSI Asset Management and Boston Co. Asset Management. CSI was terminated when it was absorbed by Prudential Global Advisors. Boston Co. was terminated for performance reasons. A Boston Co. spokeswoman said the company won't comment on clients. No other searches are planned. Merrill Lynch Consulting Services assisted.
The $500 million pension fund for the NFL Players Association, Washington, hired Numeric Investors to manage a $22 million small-cap equity account, said Mickey Yaris-Davis, director of benefits. Funding came from Ariel Capital Management, which was terminated.