Los Angeles County Employees Retirement Association issued four RFPs for securities lending services for its $3.78 billion in corporate bonds and $1.19 billion in U.S. equity securities available for loan.
The $28 billion Pasadena, Calif.-based association wanted to review capabilities of providers of securities lending services, the RFPs state. The contract of one of the current providers, Goldman Sachs, expires in June; Goldman Sachs has been invited to rebid, said Vache Mahseredjian, principal investment officer. Respondents can bid on either an agent or principal basis for bonds or equities or both, said Robert Z. Santos, investment officer, fixed income.
The RFP is available at http://www.lacera.com. The RFPs are due April 3. The board is expected to make a selection at the end of the second quarter.