Los Angeles City Employees’ Retirement System is searching for one or more managers to run about $70 million in an active, long-only, publicly traded master limited partnership strategy.
The proposed strategy must be benchmarked against the Alerian MLP index, S&P MLP index, Cushing 30 MLP index or the Wells Fargo MLP index.
The MLP allocation is a new strategy for the $14 billion pension fund.
The RFP is on LACERS’ website. Responses are due Nov. 4. A hiring date has not been determined, but it could be as early as the first quarter of next year.
General investment consultant Wilshire Associates is assisting.
Rodney June, LACERS chief investment officer, could not be reached by deadline.
