Los Angeles County Employees Retirement Association board selected W.R. Huff to run a $350 million domestic high-yield bond portfolio for the $24.76 billion fund.
Separately, the board extended by one year LACERA’s contract with Sentinel Realty Partners 1, a commingled real estate fund. The board extended Sentinel’s contract so the limited partnership could complete the disposition of the last two remaining properties in its portfolio and fulfill all outstanding obligations in order to terminate the partnership, according to a staff report. The two remaining assets have an estimated market value of $29.3 million, of which LACERA’s share is about $8 million, the report states.
