Active Emerging Markets Public Equities Separate Account Manager Request for Proposal (RFP)

July 10, 2007

SUBJECT : REQUEST FOR PROPOSAL FOR ACTIVE EMERGING MARKETS PUBLIC EQUITIES SEPARATE ACCOUNT MANAGER

Dear Proposer:

The Los Angeles City Employees' Retirement System (LACERS), an $11 billion defined benefit public pension fund, is seeking proposals for a diversified Active Emerging Markets Public Equities separate account manager. It is anticipated that one manager will be hired to manage approximately $150 million.

To be considered, the firm must be a registered investment advisor or be exempt from registration. LACERS is seeking a firm with at least five-years experience actively managing diversified emerging markets equity separate accounts for institutional clients with at least $250 million total assets in emerging markets equities. The firm must have at least a five-year live (i.e., not simulated) performance history for the period ending June 30, 2007 in diversified actively managing emerging markets equity separate accounts. Other minimum qualifications are outlined in the body of the RFP.

The selected firm must be available for presentations to, and consultations with, the Board and Investments Committee (Committee) on issues pertaining to their services. Consideration will be given to minority- and women-owned firms to ensure that minorities and women have an opportunity to participate.

Managers who become finalists may be requested to submit additional copies of their proposal. Any questions should be directed to Dan Gallagher or Rod June at (213) 473-7124.

Sincerely,

ROBERT AGUALLO, JR., General Manager
Los Angeles City Employees' Retirement System