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Los Angeles Water & Power Employees' Retirement Plan committed $60 million to Almanac Realty Securities IX for its $15.8 billion defined benefit fund.The retirement plan's board approved the commitment to the closed-end, value-added real estate fund managed by Almanac Realty Investors in closed…
Los Angeles Water & Power Employees' Retirement Plan will launch a search for an active extended global credit manager to run $750 million for its $15.3 billion defined benefit plan.
The retirement plan will issue the RFP on March 22, according to March 10 board meeting materials.
The…
Los Angeles Water & Power re-signs StepStone as real estate consultant
StepStone Real Estate as real estate consultant, said Jeremy Wolfson, chief investment officer.
The $18.4 billion pension fund issued an RFP in September. StepStone had inherited the contract of incumbent consultant Courtland Partners in 2018 following its acquisition of that firm.
As of Nov. 30, the actual allocation to real estate was 6.8%; the target is 7%.
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