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High Yield/Bank Loan Credit Mandate Search RFP

RFP Documents:
RFP Search Document (Word Format)
Exhibit 6 - Questionnaire (Zip)
Appendices (Zip)

February 25, 2019

To All Interested Parties:

The Los Angeles City Employees’ Retirement System (LACERS) administers an investment portfolio with approximately $17.1 billion in assets. This investment manager search seeks one or more qualified investment management firms to actively manage up to approximately $216 million each in a high yield fixed income strategy and a hybrid high yield fixed income/U.S. floating rate bank loans strategy through separately managed accounts.

Emerging Managers (as defined by LACERS’ Emerging Investment Manager Policy) are encouraged to participate in this search, subject to LACERS investment policies (including LACERS’ Emerging Investment Manager Policy) and any provisions specifically stated in this search document that pertain only to Emerging Mangers.  LACERS will consider Emerging Manager mandates based on the criteria outlined in the search document. 

The search document, which details the minimum qualifications each respondent must meet in order to be considered, as well as the required City forms, is available on LACERS website: lacers.org and at the website of LACERS General Fund Consultant, NEPC: https://www.nepc.com/advertised-searches   

Questions and Answers Posted March 19, 2019 UPDATED 

Proposal Submittal Deadline:

The deadline for submitting proposals: 4:00 P.M. (PDT) on Friday, April 12, 2019

Additional Schedule Information:

Written Questions Submission by email:                                                          4:00 P.M. (PST) on Friday, March 8, 2019
Response to Written Questions will be posted on this page.

Submittals received after the deadline will NOT be considered. 
Finalist candidates may be requested to submit additional copies of their proposal.

Please direct any questions regarding the search to lacers.invest@lacers.org and LACERSRFPResponse@NEPC.com, with the name of your firm along with the phrase ‘High Yield Fixed Income and Hybrid High Yield Fixed Income / U.S. Floating Rate Bank Loan Mandate Search’ appearing in the subject line, prior to 4:00 P.M., Pacific Standard Time, on Friday, March 8, 2019. 

We invite and look forward to your participation in this search.


Neil M. Guglielmo 
General Manager