Los Angeles City Employees' Retirement System selected BlackRock, Mellon Transition Management and Northern Trust for a list of preapproved transition managers, Linda Aparicio, spokeswoman for the $10.8 billion system, stated in an e-mail.
The three firms were selected following an RFQ launched in August.
Transition services will be bid on an “as needed basis,” she wrote.
Separately, the board renewed PanAgora Asset Management, which runs $127 million in active domestic small-cap value equities. There was no search.
The board also extended for one year its contract with Institutional Shareholder Services for proxy voting and analysis services.
In other action, the board reduced its assumed investment rate of return to 7.75% from 8%, with a five-year phase-in plan. System officials deferred consideration of a 7.5% assumed rate until after the next asset allocation study, expected next year.