Los Angeles City Employees' Retirement System will launch a search for at least one active manager to run a $65 million long-only U.S. or global real estate investment trust allocation, according to minutes from the $11.9 billion pension fund board's Jan. 28 meeting.
In January 2012, LACERS added a new 5% allocation to public real assets.
Documents for the search are expected to be launched by March on LACERS' website.
General investment consultant Wilshire Associates is assisting.
Separately, LACERS hired Principal Global Investors to manage $120 million in an active U.S. midcap core equity portfolio with a Russell Midcap index benchmark. LACERS launched the search in July.
The pension fund also committed up to $25 million to EIG Global Energy Partners' EIG Energy Fund XVI, an infrastructure fund that would invest primarily in domestic debt and structured equity. The new fund has a fundraising target of $4.25 billion.
Hamilton Lane Advisors, LACERS private equity consultant, made the commitment to EIG Energy Fund XVI through a discretionary mandate.
LACERS' first commitment to EIG was in EIG Energy Fund XV.
