Los Angeles City Employees’ Retirement System renewed its contracts with active domestic intermediate fixed-income managers LM Capital Group and Baird Investment Management, said spokeswoman Linda Aparicio, in an e-mailed response to questions.
LM manages $242 million; Baird, $238 million. Both contracts are now set to expire on Feb. 28, 2014. No RFP was issued.
Separately, the system plans to issue an RFP for an executive search firm to assist the $10 billion system in its search for a new chief investment officer. The previous CIO, Daniel Gallagher, retired last year.
The shortlist search will be directed solely from the City of Los Angeles Personnel Department’s preapproved list of executive search firms.
Staff will conduct the RFP process immediately, with the system’s general manager, Thomas Moutes, assigned to sort through the responses. No further details were available by press time, including when the RFP invitations will be sent.