Los Angeles County Employees Retirement Association hired Analytic Investors for a $250 million large-cap U.S. equity 130/30 strategy. The selection was made following an RFI last year. The funding source has yet to be determined, said Lisa Mazzocco, CIO of the $40 billion Pasadena, Calif.-based association. The board also committed up to $100 million to Starwood Capital Global Hospitality Fund II, a real estate investment fund, and up to $75 million to Onex Partners III, a private equity fund.
Separately, the board launched a search for up to two active domestic smidcap core equity managers, she said. The size of the mandate has not been determined. Funding comes from Mazama Capital Management, which ran a $250 million active small-cap growth portfolio when it was terminated in May.