The board of the $15 billion Los Angeles Fire and Police Pensions is searching for an emerging fund of hedge funds manager to add to its existing alternative investment portfolio.

The plan will focus on strategies that best compliment its existing fund of fund managers, Dorchester Capital Advisors, GAM and Permal Group, which were hired earlier this month. LAFPP does not permit its fund of hedge funds managers to use leverage at the fund level. The minimum initial funding of the mandate is yet to be determined.

Firms submitting proposals should have at least $150 million and no more than $750 million in hedge fund assets under management, a minimum of two years of audited results or three years of audited hedge fund management results from another firm, and at least two tax-exempt clients or one public pension plan client. The mandate will be benchmarked against the 90-day Treasury bill plus 500 basis points

The request for proposals is accessible on the plan’s Web site and its deadline is Aug. 15.