Los Angeles Fire & Police Pension Plan launched an RFP for a non-discretionary private equity consultant for its specialized private equity manager program, according to the RFP posted on the $15.7 billion pension fund’s website.
The specialized private equity manager program focuses on firms that are emerging managers, minority- or women-owned, invest in economically challenged areas or invest in Los Angeles or California. The specialized private equity manager program has a current total commitment size of about $306.5 million, with an additional $60 million in commitments planned.
Portfolio Advisors is the incumbent and will rebid, said Tom Lopez, chief investment officer, in an e-mail.
The RFP is on the pension fund’s website; responses are due by April 26. A hiring decision is expected to be made in early to mid-June, said Erika Tiedge, investment officer, at Thursday’s board meeting.