Robert Aguallo Jr. was named managing partner at private equity firm Cardinal Americas, Mr. Aguallo said. The new firm was formed 18 months ago by three principals at private equity firm Cardinal Growth Corp. and an executive of construction company Cordoba Corp. The firm is in the process of raising its first fund, which has a $150 million target. Its expected to have its first close with $50 million in August, with a final close a year later, said Mark Vargas, spokesman for Cardinal Americas. Mr. Aguallo was general manager of the $10.7 billion Los Angeles City Employees Retirement System; he retired earlier this year but stayed for several months while the association searched for a successor. He was replaced by Sally Choi.