Los Angeles County Employees Retirement Association, Pasadena, Calif., selected Morgan Stanley Alternative Investment Partners for a $250 million private equity co-investment portfolio, subject to contract negotiation. The $34 billion association issued an RFP last year.
Separately, the association's board issued an RFP for a general consultant, said Lisa Mazzocco, CIO. Incumbent Russell Investment Group is invited to bid. The search is part of the "normal course of business," Ms. Mazzocco said. A selection is expected in the summer. Also, association officials 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 allocation is $500 million in a Barclays Global Investors Alpha Tilts account, and association officials expect to increase assets invested in the style.