Los Angeles City Employees’ Retirement System (LACERS) has issued two requests for proposals (RFP) to hire managers to invest up to $1.35bn (€1.1bn) in infrastructure assets.
The $25bn pension fund said it intends to appoint passive global infrastructure managers for an $800m mandate and expects to hire active infrastructure managers on a global basis for an allocation of approximately $550m.
According to the RFP, managers responding must hold at least $250m in infrastructure assets under management.
LACERS encourages emerging managers to apply for either mandate, with submission deadlines set for 4 June for the passive search and 11 June for the active search.
LACERS prefers to award both mandates via separate account relationships, though fund products will also be considered.
The pension fund will employ the S&P Global Listed Infrastructure Index as the benchmark for both searches.
The pension fund expects to reach a final decision on both mandates in January next year.
The searches form part of the 5% infrastructure allocation established by the pension fund in December 2024.
To read the latest IPE Real Assets magazine click here.
