LACERA seeks illiquid credit emerging manager

The $75 billion Los Angeles County Employees Retirement Association (LACERA) has issued an RFP for separate account portfolio construction services for a $750 million portfolio of emerging illiquid credit managers.

According to the retirement system, the manager would source, conduct due diligence on and manage a portfolio of emerging managers. Responses are due back Dec. 10.

LACERA’s strategic asset allocation includes a 7% target to illiquid credit strategies and the pension’s implementation of illiquid credit targets a 15% allocation to an emerging manager program, with a 10-20% range.

According to . . .

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