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LOS ANGELES CITY EMPLOYEES’ RETIREMENT SYSTEM – PRIVATE CREDIT MANDATE SEARCH

Posted on: December 10, 2018

The Los Angeles City Employees’ Retirement System (LACERS) administers an investment portfolio with approximately $16.8 billion in assets. This investment manager search seeks one or more qualified investment management firms to actively manage up to approximately $670 million in a private credit investment strategy through separately managed accounts and commingled funds. LACERS will consider senior secured debt mandates with a geographic emphasis in the United States, Europe or Asia. The proposed strategy is expected to outperform the Credit Suisse Leveraged Loan Index by 200 basis points over a full market cycle.

Emerging Managers (as defined by LACERS’ Emerging Investment Manager Policy) are encouraged to participate in this search, subject to LACERS investment policies (including LACERS’ Emerging Investment Manager Policy) and any provisions specifically stated in this search document that pertain only to Emerging Mangers.  LACERS will consider Emerging Manager mandates based on the criteria outlined in the search document.  

The search document, which details the minimum qualifications each respondent must meet in order to be considered, as well as the required City forms, is attached here and is available on LACERS website: lacers.org. 

Proposal Submittal Deadline:

The deadline for submitting proposal: 5:00 P.M. (PST) on Friday, January 18, 2019

Additional Schedule Information:

Written Questions Submission by e-mail: December 21, 2018; 5:00 P.M. PST

Response to Written Questions will be posted on this page.

Submittals received after the deadline will NOT be considered.

Finalist candidates may be requested to submit additional copies of their proposal.

Please direct any questions regarding the search to lacers.invest@lacers.org and LACERSRFPResponse@NEPC.com, with the name of your firm along with the phrase 'Private Credit Mandate Search' appearing in the subject line, prior to 5:00 P.M., Pacific Standard Time, on Friday, December 21, 2018.

RFP Search Document

Exhibit 6 - NEPC Questionnaire

Appendices

RFP Questions & Answers

 

 

 

 

 

 

 

 

Topics: Research

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