Los Angeles City Employees' Retirement System hired Capital Prospects to manage a $25 million domestic equity emerging manager fund of funds, said Wayne Ige, investment officer of the $8.8 billion system. Funding came from reducing S&P 500 index funds managed by BGI and RhumbLine that have a combined $1.6 billion.
The fund also committed $15 million to CVC European Equity Partners IV and $9 million to Spark Capital LP, both private equity funds. Hamilton Lane made the investments through a discretionary private equity mandate to invest around $616 million of plan assets.
