Los Angeles Water & Power Employees' Retirement Plan intends to issue RFPs for real estate and alternatives managers in the first quarter, said Robert Rozanski, acting retirement plan manager. Officials at the $5.9 billion fund implemented new 4% real estate and 5% alternatives allocations following a recent asset allocation study. They have not determined how many managers will be hired or when the RFP will be issued.
Separately, the system hired Mellon Bank as its master custodian, replacing Bank of New York, Mr. Rozanski said.
