Los Angeles Fire & Police Pensions is searching for a non-discretionary private credit consultant to assist the board in the development of a newly created private credit portfolio.
The $28 billion pension fund has issued an RFP for a consultant following the creation last June of a new 2% private credit target allocation, Ray Ciranna, general manager, said in an email.
The portfolio will start with $300 million in commitments, which may increase in the future, and consist of 60% going into private credit funds and 40% to levered bank loans, according to the RFP posted on the pension fund's website.
The RFP is posted on the pension fund's website. Proposals are due at 4 p.m. CDT on May 7. A timeline for a selection was not provided.