Los Angeles County Employees Retirement Association, Pasadena, Calif., is searching for a general investment consultant.
The $48 billion pension fund's current consultant, Wilshire Associates, will be invited to rebid, said David Kushner, chief investment officer, in an e-mail last month. Pension fund officials moved up the timing of the RFP to March instead of June in light of the January departure of William G. Bensur Jr., a managing director at Wilshire and LACERA's lead consultant.
Among other qualifications, the consulting firm must have one public fund client with at least $35 billion in assets, a minimum of $100 billion of assets under advisement and a database with “sufficient breadth to assist, when necessary, with manager search and analysis,” the RFP said. Moreover, the proposed lead consultant must have worked with a public pension fund client that has at least $20 billion in assets in the last two years.
The RFP is available on LACERA's website. Proposals are due no later than 3 p.m. PDT April 17, with finalist interviews and a selection by the board on Aug. 12.