The Los Angeles County Employees Retirement Association selected Equitable Real Estate and AMB Institutional Realty Advisors Inc. as core-type separate account real estate managers pending final negotiations. The amount of the allocations from the $20 billion fund hasn't been decided yet.
Townsend Group assisted in the staff-driven manager search. Other finalists were Yarmouth, Metric and LaSalle.
The United Auto Workers pension fund, Detroit, hired Dean Witter Investment Consulting Services as consultant for its $500 million-plus fund, and Institutional Shareholder Services to vote shares on the fund's behalf, said Gary Jones, administrative assistant to Ron Wyse, UAW secretary/treasurer.
The fund previously used Marco Consulting for consulting and proxy voting.