Los Angeles City Employees’ Retirement System renewed Neuberger Berman, which manages $990 million in active fixed income, and extended for two years the contracts of private equity consultant Hamilton Lane and specialized alternative investment consultant Pension Consulting Alliance, Juan Garcia, spokesman for the $9.7 billion system, wrote in an e-mail response to inquiries.
Neuberger Berman’s new term is for three years beginning July 1. The Hamilton Lane and PCA new agreements are effective January 2011.
Separately, the system committed up to $15 million to Polaris Venture Partners VI. Hamilton Lane made the commitment under its discretionary mandate with the system.