Updated May 31, 2011
Los Angeles Fire & Police Pension System issued an RFP for an international large-cap equity emerging manager to run $25 million to $50 million, Michael Perez, general manager, wrote in an e-mailed response to inquiries.
The board of the $14.5 billion system approved the RFP on May 19.
Investment managers that apply must run a separate account for the system, have assets of more than $250 million and less than $3 billion, have at least one year of operation as an investment management firm and have at least one tax-exempt account under management.
The system's general consultant, R.V. Kuhns & Associates, is assisting.
The RFP is available on the system's website, www.lafpp.com. The deadline for proposals is July 1; the selection date has not been determined.
Separately, the board renewed MacKay Shields, which runs $397 million in high-yield fixed income, with a three-year contract.