General Pension Fund Consultant Request for Proposal (RFP)
January 24, 2006
Subject: REQUEST FOR PROPOSAL FOR GENERAL PENSION
FUND CONSULTANT
Dear Proposer:
The Los Angeles City Employees' Retirement System (LACERS),
a $9.3 Billion fund, is seeking through a competitive bid process,
general investment portfolio consultation services regarding
various domestic and international, equity and fixed income,
separate account and total fund issues. Services will include
domestic and international performance measurement, attribution
analysis, formulation and modification of Plan investment policy,
and strategic asset allocation advice. Additionally, services
may include searches for and selection of domestic and international
equity and fixed income managers; currency overlay or other
asset class managers; performing asset-liability analysis and
other consulting tasks. Respondents must have experience providing
the aforementioned consulting services to institutional clients
with portfolios of more than $5 billion on a full retainer
basis.
LACERS' portfolio is currently valued at approximately $9.3
billion. The portfolio consists of:
- one (1) passively-managed domestic bond account;
- three (3) actively-managed domestic bond accounts;
- one (1) commercial mortgage commingled fund;
- two (2) passively-managed domestic equity
accounts;
- eight (8) actively-managed domestic equity
accounts;
- two (2) fund-of-funds managers
- one (1) passively-managed EAFE index account;
- five (5) active non-U.S. equity accounts;
- one (1) internally-managed cash account;
- thirty-five (35) closed-end commingled real
estate fund accounts;
- seventy-one (71) closed-end commingled alternative
investment fund accounts.
- four (4) corporate governance investment managers
(one US and three non-US)
In addition, LACERS uses an independent real estate consultant,
an independent alternative investments consultant (core portfolio),
and a specialized non-traditional alternative investment consultant
for the private equity carve-out portfolio.
The selected consultant must be available for presentations
to, and consultation with, the Board and staff on various investment-related
issues. The Board may elect to hire multiple consultants if
it determines that the best relationships can be established
in this manner without significantly increasing the cost to
the Fund.
Consideration will be given to proposals from emerging firms
to ensure that women and minorities have an opportunity to
participate.
The RFP and other required documents may be downloaded from
LACERS' website www.lacers.org .
A list of required documents can be found in attached instructions
Section IV "Proposal Requirements" of the RFP. Proposals must
be received by LACERS by 3:00 PM PST, Thursday, February 23,
2006. FACSIMILE COPIES WILL NOT BE ACCEPTED NOR ANY
OTHER TRANSMISSION OF THE RFP RESPONSES NOT AUTHORIZED BY THIS
RFP.
Finalist candidates may be requested to submit additional
copies of their proposal. Any questions should be directed
to Rod June or Barbara Sandoval at (213) 473-7124 or emailed
to lacers1@mindspring.com
Sincerely,
Robert Aguallo, Jr., General Manager
Los Angeles City Employees'
Retirement System
RA:DPG:RJ/BS
Enclosures
|
