Los Angeles City Employees' Retirement System made two real estate commitments: up to $30 million to Buchanan Fund V and up to $10 million to MacFarlane Urban Real Estate Fund II, said a fund official who declined to be identified. It also made two private equity commitments: up to $20 million to Hellman & Friedman Capital Partners VI and up to $15 million to CHP II, managed by Cardinal Partners.
System officials also extended the contract of Marvin & Palmer until June 30 for a $131.9 million active EAFE core equity portfolio. The contract expired Dec. 31, and the board is scheduled to review the fund's non-U.S. equity managers at its Jan. 16 retreat.
Officials also extended INVESCO Realty Advisors' contract until Jan. 27, 2008. The firm manages a $100 million core/value-added mandate for the fund.