Los Angeles City Employees' Retirement System named Pathway Capital Management, Hamilton Lane, Pacific Corporate Group and Pension Consulting Alliance as finalists in its search for a consultant for its $500 million private equity portfolio and its new 0.7% allocation to specialized non-traditional private equity, said Sally Choi, assistant general manager. Pathway is consultant and gatekeeper for the $7.7 billion system's existing portfolio.
PCG applied to consult for both portfolios; Pathway and Hamilton Lane applied as consultant for the system's traditional private equity portfolio; and PCA bid to advise the specialized allocation only. A selection date has not been set, Ms. Choi said.
Separately, the system hired Segal Co. as actuarial consultant, Ms. Choi said. Milliman USA and Deloitte & Touche were the other finalists. Incumbent Gabriel Roeder Smith's three-year contract expired June 30; the firm was allowed to rebid.
