The Los Angeles County Employees Retirement Association, Pasadena, Calif., issued an RFP for at least one manager to run $370 million in active or passive collateralized commodity futures, said Vache Mahseredjian, principal investment officer for the $36.7 billion fund. The new allocation will be funded by reductions in the system's $11.8 billion domestic equity portfolio, but no specific manager or strategy has been targeted, CIO Lisa Mazzocco said in an earlier interview. The allocation is being made for diversification.
Responses to the RFP are due at noon PST Dec. 22. The RFP is posted on the association's website, www.lacera.com. Manager selections are expected in the first half of 2007.