Los Angeles County Employees Retirement Association, Pasadena, Calif., expects to search in a couple of months for an active domestic small-cap core equity manager to run $200 million. The portfolio's current manager, Capital Guardian, will be invited to rebid. Officials at the $26 billion plan have "concerns over performance," said Lisa Mazzocco, deputy CIO. Jennifer Grigas, media specialist with Capital Guardian, said the company does not comment on client relationships.
Separately, the system postponed a search for a general investment consultant while the SEC completes its review of the consultant industry, Ms. Mazzocco said. Officials have not decided when the search will resume. Incumbent Frank Russell can rebid.
