LACERA To Adjust Manager Roster
January 10, 2006
The $32 billion Los Angeles County Employee's Retirement Association (LACERA) is gearing up to make several changes to its manager roster, according to the fund's Web site.
Juan Almaguer, an investment officer at the fund, did not return calls requesting further details by press time.
However, according to the agenda for LACERA's Jan. 11 meeting the plan may initiate a search for up to three enhanced index managers. The agenda does not indicate the size of the mandate or the intended benchmark. Nelson's MarketPlaceWeb.com lists Barclays Global Investors as the manager of a $265 million enhanced index account.
Additionally, the board may also approve a search for a U.S. fixed-income manager and an active equity manager.
The agenda also states that LACERA intends to invite Acadian Asset Management to interview for an EAFE mandate with the fund. Last year, the board launched the search for a manager to oversee $300-400 million, possibly replacing Capital Guardian Trust Co. (See IMW, 9/19/05).
LACERA is also expected to approve a $250 million commitment to a private equity co-investment program. The account would be externally managed. If approved, the fund will interview. Fisher Lynch Capital, Merrill Lynch Investment Managers Private Equity Partners and Morgan Stanley Alternative Investment Partners as finalists.
For more information on related topics, visit the following:
