Institutional Investors

Los Angeles Water and Power readies $90m FoHF RFP to supplement portfolio


Los Angeles Department of Water and Power Employees’ Retirement Plan is upping its total absolute return investment and will issue a request for proposal for fund of funds managers to run roughly $90 million.

The Californian pension fund’s board recently approved a two-manager structure for absolute return, and this will see it reconsidering the position of the incumbent, Aetos Capital, which currently manages around $35 million for the scheme.

On the advice of the fund’s consultant, PCA, the scheme will examine the best way to structure the absolute return investment. While PCA stated it had no issues with