Los Angeles County Employees’ Retirement Association, Pasadena, Calif., issued an RFI for a consultant to assist in the liquidation of its single-family home-building program, said John McClelland, principal investment officer-real estate, for the $35.5 billion association.
It is a new assignment.
LACERA’s housing program has a total investment of about $429 million, including equity and guaranteed debt, Mr. McClelland wrote in an e-mail. LACERA just completed the third year of a five-year investment period for the program. At the end of the investment period, the program automatically enters a wind-down period when the assets are liquidated in an orderly manner and no new investments are made.
The RFI is posted on the retirement system’s website. Responses are due by 1 p.m. PST Dec. 2. A selection is expected by the end of December.