The $11.4 billion Los Angeles City Employees' Retirement System is making its first investments in 130/30 strategies, with commitments to two incumbent long-only managers who also have 130/30 strategies in their portfolios.
LACERS in March heard presentations on 130/30 strategies from large-cap value manager Aronson, Johnson & Ortiz and small-cap core manager Thomson Hortsmann & Bryant. The system then directed its consultant Pension Consulting Alliance to bring back recommendations regarding these managers and their 130/30 strategies.
As a result, LACERS has decided to shifting 10% of assets from AJO’s current $444.1 million mandate and THB’s $370.5 million long-only mandate into their respective 130/30 funds.
LACERS currently has a 7% allocation to alternative investments.
Print This
Send This
Reprints
Newly-formed hedge fund shop Insparo Asset Management this week raised a $125 million fund to invest in Africa, which has become the favored new frontier for hedge fund and private equity managers alike. More...
By Donald S. Davidson -- On May 1, the California Department of Corporations announced that it is abandoning—for the time being—a proposal to require certain California investment advisers to register with the Department. More...
Hedge Funds and CTAs |
Private Equity |
People Moves |
Regulation |
Halls of Justice |
Searches and Mandates |
Shareholder Activism |
Tech and Services |
Indices and Reports |
In Depth |