The $19 billion Los Angeles County Employees Retirement Association, Pasadena, approved minimum criteria to an RFI for an alternative asset adviser. The criteria include: a minimum of $300 million in discretionary or advisory assets under management within the past 12 months; a database of or access to a database of sufficient size and scope; and at least one existing pension fund client with a minimum of $1 billion in total fund assets.
The RFI is not expected to be ready until September. Chancellor Capital Management is the funds current alternative asset adviser.
