Los Angeles Water & Power Employees' Retirement Plan will launch a search for a general investment consultant for its $14.1 billion defined benefit plan next week.
The retirement plan will issue the RFP on July 27, said Jeremy Wolfson, chief investment officer, in an email. Current consultant RVK will be invited to rebid.
As of March 31, the actual allocation was 31.8% domestic equities, 25.2% fixed income, 17.5% international equities, 8% real estate, 6.4% private equity, 5.2% hedge funds, 4.5% real return and the rest in cash.
The RFP will be posted on the plan's website. The most recent draft of the RFP has a proposal due date of 4 p.m. PDT on Aug. 21. A timeline for a selection has yet to be determined.