Key Takeaways
- • LACERS, the Los Angeles City Employees' Retirement System, has issued an RFP to hire a full-service, non-discretionary real estate consultant on a five-year full retainer contract, with proposals due Nov. 8.
- • The mandate covers private real estate across core, value-add, opportunistic, timber and infrastructure strategies, with domestic and international property types and sizes in scope.
- • The consultant search follows LACERS' broader leadership and investment transition, including CIO Rodney June's retirement in July and a separate CIO successor search.
- • LACERS' total investment portfolio is reported to have grown substantially, from $10.6 billion to more than $23 billion, per publisher context; Pensions & Investments cites a $28.1 billion system.
Summary
The Los Angeles City Employees' Retirement System (LACERS) has launched a request for proposals to select a real estate consultant, according to the primary source. The pension fund has invited qualified organizations to provide full-service, non-discretionary real estate consulting services. LACERS intends to award a single five-year full retainer contract to the firm that best meets its needs. Proposals are due Nov. 8.
For the purposes of the RFP, "real estate" primarily refers to private real estate investments across core, value-add, opportunistic, timber and infrastructure strategies, spanning various property types and sizes, both domestic and international. LACERS said the scope may also include policy development and implementation advice on domestic and international infrastructure recommendations.
The search comes amid a broader transition in the fund's investment leadership. Publisher context indicates that Rodney June, the system's chief investment officer, plans to retire in July, with a successor search beginning in May. Pensions & Investments describes the system as a $28.1 billion pension fund launching a search for its next chief investment officer. Publisher context also notes that LACERS' assets have more than doubled from $10.6 billion to more than $23 billion.
The primary article notes that as of June 30, LACERS' total investment portfolio was valued at a figure that the excerpt does not complete. Readers should consult the full filing or RFP documentation for the final portfolio value and detailed evaluation criteria.
For the purposes of the RFP, "real estate" primarily refers to private real estate investments across core, value-add, opportunistic, timber and infrastructure strategies, spanning various property types and sizes, both domestic and international. LACERS said the scope may also include policy development and implementation advice on domestic and international infrastructure recommendations.
The search comes amid a broader transition in the fund's investment leadership. Publisher context indicates that Rodney June, the system's chief investment officer, plans to retire in July, with a successor search beginning in May. Pensions & Investments describes the system as a $28.1 billion pension fund launching a search for its next chief investment officer. Publisher context also notes that LACERS' assets have more than doubled from $10.6 billion to more than $23 billion.
The primary article notes that as of June 30, LACERS' total investment portfolio was valued at a figure that the excerpt does not complete. Readers should consult the full filing or RFP documentation for the final portfolio value and detailed evaluation criteria.
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