Los Angeles City Employees’ Retirement System plans to a search for a panel of transition managers, according to Linda Aparicio, spokeswoman for the $10.8 billion system.
System officials on Aug. 8 will issue a request for qualifications for investment transition management services. According to a draft of the RFQ, responses would be due Aug. 24, with selections made in eight weeks. The board has delegated the authority to staff and its general consultant, Wilshire Associates, to recommend up to three firms that will form the system’s new approved panel of transition managers, she stated in e-mailed responses to questions.
State Street Global Advisors, Bank of New York Mellon, Merrill Lynch, Global Transition Solutions, Donaldson & Co., Cabrera Capital Markets, GRW Capital, Lambright Financial Solutions and MAGNA Securities are on the system’s current transition manager list. The incumbents can rebid.
Further information was unavailable at deadline. The RFQ is expected to be posted on the system’s website.