Key Takeaways
- • The Los Angeles County Employees Retirement Association (LACERA) has issued a request for proposal (RFP) to select a private equity consultant.
- • The search is driven by the upcoming expiration of the contract with incumbent consultant StepStone Group.
- • The source material is limited to a headline, publisher summary and a brief reference to the RFP, so no fee terms, scope details or submission deadlines are available in the reporting.
Summary
LACERA, the pension system for Los Angeles County employees, has issued a request for proposal for a private equity consultant, according to Financial Investment News (FIN). The publisher reports that the search is being conducted because the contract of the incumbent consultant, StepStone Group, is set to expire.
For institutional allocators, a consultant RFP of this kind typically signals a review of the private equity program's advisory structure rather than a change in its underlying allocation. Consultants to public pension plans generally assist with manager searches, due diligence, performance monitoring and portfolio pacing, and a replacement process gives the plan an opportunity to reassess those services.
The available reporting does not disclose the scope of services, the contract length, the evaluation timeline or the number of firms expected to respond. Readers seeking those specifics should consult the original RFP documentation published by LACERA.
For institutional allocators, a consultant RFP of this kind typically signals a review of the private equity program's advisory structure rather than a change in its underlying allocation. Consultants to public pension plans generally assist with manager searches, due diligence, performance monitoring and portfolio pacing, and a replacement process gives the plan an opportunity to reassess those services.
The available reporting does not disclose the scope of services, the contract length, the evaluation timeline or the number of firms expected to respond. Readers seeking those specifics should consult the original RFP documentation published by LACERA.
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