LA Water & Power Watches EARNEST
June 20, 2006
The $6 billion Los Angeles Water and Power Employees' Retirement Plan is expected to place EARNEST Partners on watch at the plan's upcoming June 21 meeting.
Further details could not be ascertained, however. Sangeeta Bhatia, administrator, did not return calls.
Meanwhile, the agenda posted on the plan's Web site indicates that Earnest Partners manages a domestic equity small-cap account. The size and specific style of the account could not be determined.
Paul Viera, CEO of EARNEST Partners did not return calls seeking comment by press time.
Separately, the fund is also expected to assign the passive U.S. equity large-cap portfolio currently managed by Merrill Lynch Investment Management (MLIM) to BlackRock.
Earlier this year, the fund placed MLIM on its watch list as the result of its merger with BlackRock (See IMW, 4/10/06).
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