Los Angeles City Employees' Retirement System this month plans to launch an RFP for a real estate consultant, according to minutes from the board's March 12 meeting.
The incumbent is Courtland Partners. Mimi Lin, LACERS spokeswoman, did not respond to inquiries seeking further information on the prospective search including whether Courtland will be invited to re-bid.
Separately, six firms are semifinalists in the system's search for active non-U.S. developed markets equities managers, according to a memo from Chief Investment Officer Rodney L. June to the board for its March 26 meeting. They are: AQR Capital Management, Lazard Asset Management and MFS Investment Management for core accounts; MFS and Turner Investments for growth; and Barrow, Hanley, Mewhinney & Strauss and J.P. Morgan Asset Management for value.
LACERS launched an initial search in July and relaunched the search on Nov. 27 to get more participation from emerging managers. Fund officials will select at least one manager for each style. About $948 million total will be invested.
