Institutional Investors

$36bn LACERA searches for bespoke provider

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The $36 billion Los Angeles County Employees Retirement Association (LACERA) has issued an RFI to evaluate firms to offer a customised fund of hedge funds mandate.

Qualifications for the search include assets of $5 billion and institutional assets of at least $3 billion and at least $1 billion in assets that are in customised portfolios that have fund selections and weights different from those in the manager’s commingled fund vehicle.

LACERA is also asking for managers to have a minimum of five years experience in managing customised portfolios. Initial responses were gathered in