Los Angeles County Employees Retirement Association, Pasadena, Calif., hired commodities managers PIMCO to manage $250 million and Lehman Brothers to handle $150 million, said Lisa Mazzocco, CIO of the $39 billion fund. Its a new allocation, and funding will come from the systems $13 billion domestic equity portfolio; she would not elaborate.
The board also extended Goldman Sachs securities lending services contract, which expires in June, by two years. It extended Pathway Capital Managements contract as private equity discretionary adviser, which expires July 31, for 30 days pending the hire of a new performance reporting provider for its $2.2 billion private equity portfolio. The board could select a provider at its June 6 meeting.