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Los Angeles Water & Power taps RVK as investment consultant RVK as the general investment consultant for its $14 billion defined benefit plan, said Jeremy Wolfson, chief investment officer. The retirement plan issued an RFP in July due to the impending expiration of RVK s contract on Nov. 30. Callan and Verus Advisory were the other finalists. As of Sept. 30, the pension plan s actual allocation was 28.7% domestic equities, 25.3% fixed income, 20.2% international equities, 7% real estate, 6% private equity, 4.9% real return, 4.4% hedge funds, 2.8% global equity and 0.7% cash equivalents. Related Articles ....
Los Angeles Water & Power disperses $45 million to buyout fund Print Los Angeles Water & Power Employees Retirement Plan committed $45 million to Stellex Capital Partners II on behalf of its defined benefit plan. The $16.3 billion retirement plan disclosed the commitment to the special situations buyout fund managed by Stellex Capital Management in a Dec. 2 memo from Jeremy Wolfson, chief investment officer. As of Oct. 31, the DB plan s private equity allocation was 6.3%; the target is 5%. The retirement plan also committed $5 million to Stellex Capital Partners II on behalf of its retiree health benefits fund. Related Articles ....