Los Angeles County Employees Retirement Association, Pasadena, Calif., is searching for an undetermined number of real estate emerging managers to jointly run up to $100 million as part of the $30.6 billion fund’s emerging manager program. The program, formed to create opportunities for small organizations, was expanded last December to include real estate, said John McClelland, principal investment officer in real estate. Selections are expected to be made in April, he said.
Separately, the system chose Pacific Corporate Group, Pathway Capital Management and incumbent Hamilton Lane Advisors as finalists in its search for a private equity adviser. A selection is expected at the board’s Nov. 28 meeting. Currently, the system has $1.5 billion invested in private equity, said Christopher J. Wagner, investment officer.