Los Angeles Fire & Police Pension System invested $25 million each with two emerging managers, OakBrook Investments and Redwood Investments, for active domestic large-cap equity portfolios, said Ray Ciranna, general manager of the $18.6 billion pension fund, in an e-mail.
The pension fund in the past year has hired seven emerging managers across asset classes with mandates totaling about $225 million, Mr. Ciranna noted.
Separately, the board renewed the contract of LM Capital, which runs $344 million in active core-plus fixed income. LM Capital’s contract was set to expire Aug. 31.
RVK, the fund’s general investment consultant, assisted on both actions.