Los Angeles Water & Power Employees’ Retirement Plan named seven finalists in its search for one or two large-cap value equity managers to run a total of $325 million, said Duamel Vellon, retirement plan manager. The finalists are: T. Rowe Price; Wellington; LSV Asset; Barrow Hanley; Capital Guardian Trust; State Street Global Advisors; and Bear Stearns Asset. They will be asked to make presentations to the board within a month, he said.
Separately, the $5.8 billion system hired Bank of New York for transition services for the fund’s $1.4 billion in passive investments, replacing Northern Trust and Merrill Lynch.