Los Angeles County Employees Retirement Association, Pasadena, Calif., is searching for a consultant to retroactively recalculate and verify that private equity fees and expenses on a subset of active private equity funds were charged in accordance to the limited partnership agreements, information on the $48 billion pension fund's website shows.
In particular, the consultant would recalculate and verify management fees, expenses and carried interest charged by the group of private equity funds. The consultant would also, on a continuous basis, monitor, validate and reconcile “services to ensure all future capital calls and distribution notices are in accordance with the limited partnership agreement.”
LACERA has a 9% allocation to private equity.
Interested firms must submit an intent to respond by e-mail to Christopher Wagner, principal investment officer, private equity, by 5 p.m. PST on Sept. 18 at [email protected] or by fax to 626-564-6130.
The RFP is available on LACERA's website. RFP responses are due at 5 p.m. PST Oct. 9. A selection is expected Oct. 30.
Mr. Wagner could not be reached by press time.