Los Angeles City Employees' Retirement System will issue an RFP for a manager to run $230 million in active intermediate-duration fixed income, a new asset class, according to staff at the $7.7 billion plan. Funding will come from cash. The RFP is expected to be on the system's website, www.lacers.org, by Friday.
Separately, the system's board authorized committing $25 million to Tuckerman Residential Income and Value-Added Fund IV and $10 million to Southern California Smart Growth Fund I. Funding for both will come from cash. Also, contracts were renewed with Lincoln Capital Management to handle $730 million in active domestic fixed income and Aronson + Johnson + Ortiz to run $255 million in active domestic large-cap value equities.