Los Angeles County Employees Retirement Association, Pasadena, Calif., issued an RFP for a general consultant, said Lisa Mazzocco, CIO of the $34 billion association. Incumbent Russell Investment Group is invited to bid. The search is part of the "normal course of business," Ms. Mazzocco said. Proposals are due April 27, and selection is expected in the summer. The RFP is on the association's website at www.lacera.org.
Association officials also plan to search for up to three managers to run an enhanced S&P 500 index portfolio. It's a new allocation; the size has not been determined. Currently, the association's only other enhanced index equity allocation is $500 million in a Barclays Global Investors Alpha Tilts account, and association officials expect to increase assets invested in the style. An RFP is expected on the association's website next week.
Separately, the association's board selected Morgan Stanley Alternative Investment Partners for a $250 million private equity co-investment portfolio, subject to contract negotiation. The fund issued an RFP last year.