Pensions
US Public Pension Funds Achieved 1-Year Returns of 9.7% in Q2
The top 5% of performing funds returned just below 13%, according to Nasdaq eVestment’s CIO Quarterly.
Tag: Los Angeles County Employees Retirement Association
Pensions
LACERA Wins Court Decision Backing Its Authority Over Employee Compensation, Classification
The state appellate court ruling reversed a 2018 decision by the Los Angeles Board of Supervisors to reject the retirement system’s proposed changes.
Newsmakers
LA County Pension Seeks Senior Investment Officer for Real Estate
The $77 billion pension fund is also looking to hire an investment officer for corporate governance and stewardship.
Asset Allocation
Los Angeles County Pension Fund Returns 6.4% in Fiscal Year 2023
LACERA outperformed its benchmark by 140 basis points to raise its portfolio’s asset value to $73.6 billion.
Newsmakers
LACERA Issues RFP for System’s Real Assets Emerging Manager Program
The $67.6 billion pension system is seeking a discretionary separate account manager to implement the Real Assets Emerging Manager Program.
Manager Selection
LACERA Seeks to Fill Newly Created Deputy CIO Role
Los Angeles County fund administrator is looking for candidates to help Jon Grabel oversee a $67.6 billion portfolio.
Newsmakers
Stock Loan Tiff: 4 Allocators’ Case Against Wall Street Firms Advances
Plans for Iowa, Los Angeles County and two other California counties seek class action standing against Goldman and four others.
Manager Selection
Ex-LACERA Chief Kushner Named as CIO of Austin Fund
The Texas city’s retirement plan has been chronically under-funded.
Corporate Moves
Connecticut Pension Fund Poaches LACERA’s Ted Wright to be New CIO
He replaces Laurie Martin as head of the $40 billion Connecticut Retirement Plans and Trust Funds.
Why Venture Capital Is Doing So Well
With stocks and bonds offering meager futures, pension plans and other investors find under-appreciated VC beats another alt, private equity, which grabs all the attention.
How to Transform an Investment Process
CIOs discuss moving the decision-making process from a board- or consultant-driven one to one that is staff-directed.
News
Los Angeles Lays Out Tentative Strategy for First-Time Real Assets Portfolio
Pension picks up infrastructure for the first time, and forms a new inaugural ‘real assets’ strategy.
Newsmakers
Exclusive: Los Angeles’ CIO Preps for Potential $1 Billion Real Estate Sell-Off
Being 2% overweight to real estate means it’s time to trim the hedgings.
Newsmakers
Los Angeles CIO Discusses Pension’s Unique Infrastructure Strategy
First-time approach to the asset class to utilize public-to-private.
LACERA CEO to Retire in October
Assistant executive officer to become interim CEO.