Los Angeles Fire and Police Pension System hired R.V. Kuhns as its general consultant, said Michael Perez, general manager of the $13 billion system.
The system launched the search in June. The contract of incumbent Pension Consulting Alliance was due to expire Sept. 30 but was extended for up to six months while the search continued.
Separately, the board amended its contractor disclosure policy; it makes an investment manager ineligible for system business for five years if, among other things, it fails to provide a list of contacts with intermediaries, including placement agents and marketers for the two years prior to board approval of a new agreement or investment.
The ban had been for two years. The change was made to comply with a new state law. However, the penalty can be modified by a majority board vote at a public session “upon showing of good cause.”
