Los Angeles Department of Water and Power Employees Retirement Plan is searching for three managers to run a combined $675 million in active international equities, benchmarked to the MSCI EAFE, and two firms to manage a total of $75 million in active emerging markets equities, benchmarked to the MSCI EMF. Duamel Vellon, retirement plan manager, said the $5.3 billion pension plan is in the process of issuing RFPs for all mandates. All the assets had been run by TCW and The Boston Co., at the discretion of the plans board. The RFP is available on the funds website, retirement.ladwp.com; responses are due April 14.
Meanwhile, the plans board put off for up to two weeks the selection of one or two managers to run a total of $325 million in active domestic large-cap growth equities and two managers to run a combined $325 million in active domestic large-cap value equities. The growth finalists are TCW, Dresdner RCM, Goldman Sachs, Wellington and T. Rowe Price; the value finalists are INTECH, ING Aeltus, Cadence, Fred Alger and Turner.