Los Angeles County Employees Retirement Association, Pasadena, Calif....

Los Angeles County Employees Retirement Association, Pasadena, Calif., hired Pathway Capital Management as its private equity adviser, subject to successful contract negotiations, said Chris Wagner, investment officer for alternative assets. Pathway replaces Hamilton Lane, whose five-year contract as adviser on the $1.4 billion private equity portfolio had expired. The $26 billion plan chose Pathway largely because of its database management system, which allows clients to view a lot of information about their funds and investments on the Internet, Mr. Wagner said.