Los Angeles County Employees' Retirement Association, Pasadena, Calif., issued an RFP for securities lending providers for an estimated $3.52 billion in corporate bonds and $2.73 billion in U.S. equity securities, said Juan M. Almaguer, the $33 billion plan's principal investment officer, fixed income. LACERA officials are launching the search because current provider Goldman Sachs' contract expires in June. Goldman Sachs is expected to rebid, Mr. Almaguer said.
Copies of the RFP are available online at www.lacera.com. Proposals are due March 25, and should be submitted separately for each asset class. Recommendations could be presented to the association's board as early as May 11.