Los Angeles Fire and Police Pension System's board issued an RFI for an alternative investments consultant. The $13.5 billion system has a 10% allocation to alternatives but no consultant. The RFI is on the fund's website at www.lacity.org. Responses are due 3 p.m. PDT April 21.
Separately, the board hired Morgan Stanley Investment Management and Adelante Capital Management as two of three managers to run a total of $200 million in REITs, said Tom Lopez, CIO. A third manager will be selected as early as April. The hirings are subject to contract negotiations. The fund interviewed REIT managers late last year.