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General Pension Fund Consultant Request for Proposal (RFP)

RFP Documents:
Entire RFP document (MS Word 2000 Format)
RFP Company Questionnaire (MS Excel Format)
Affirmative Action Statement (PDF Format)
Certification Regarding Compliance with the Americans with Disabilities Act (PDF Format)
Child Care Declaration Statement (PDF Format)
Certification of Compliance with Child Support (PDF Format)
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