LACERS narrows down REIT manager search, approves new pacing plan
The Los Angeles City Employees’ Retirement System has narrowed its search for one or more investment managers to actively manage approximately $65 million in a long-only, publicly traded U.S. or global REITS strategy to three candidates: Brookfield Investment Management, CenterSquare Investment Management and Duff & Phelps Investment Management Co. Furthermore, the retirement system recently approved a new real estate allocation and pacing plan that will place a greater focus on core investments moving forward.
LACERS’ search for REIT managers opened on March 5 and closed April 4 after receiving 31 responses, 16 U.S.-focused and 15 global. The three semi-finalists are all U.S. strategies, which LACERS preferr