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Investors - MAY 26, 2015

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LACERA searches for real estate consultant

by Andrea Waitrovich

The $48 billion Los Angeles County Employees Retirement Association has posted an RFP for a real estate consultant.

The RFP is available on its website. Proposals are due July 10, with finalist interviews and a selection by the board by Nov. 1.

The Townsend Group is the incumbent consultant and has the chance to participate in the search.

The pension fund’s has a target allocation to real estate of 10 percent, and LACERA currently has 11 percent of its assets invested in the asset class.

In April, LACERA’s board of investment real estate committee met to discuss the association’s real estate plan for the 2015–2016 fiscal year. As part of the plan, the pension fund will invest $875 mi

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