RFP: OPEB Master Trust, Private Markets Investments Manager Separate Account Search
The Los Angeles County Employees Retirement Association ("LACERA") is requesting proposals from qualified firms interested in providing multi-asset separate account or manager-of-manager private market investment services for the OPEB Master Trust. The specific services requested via this Request for Proposal (“RFP”) are contained in Section II, Scope of Services.
Scope of Services
LACERA seeks one or more multi-asset mandate separate account or manager-of-managers to invest in private markets. Selected manager(s) will provide LACERA with the following scope of services:
- Source, Diligence, and Select Investments
Identify investments, conduct independent evaluation, and select investment opportunities that align with the OPEB Trust investment policy statement and strategic initiatives (including ESG and LACERA's T.I.D.E.); Negotiate terms and conditions
- Portfolio Construction
Construct multi-asset class private markets portfolio; Monitor investments and rebalance to policy weights
- Accounting and Trade Allocations
Ability to report accounting and performance at the total OPEB Trust, and investment levels.
Provide research regarding significant changes in the alternative investments industry, including best practices, trends, and major events
Submit your Intent to Respond (Attachment A) by 3:00 PM Friday, March 25, 2022, as well as your completed proposal (email and hard copies) by 3:00 PM Friday, April 15, 2022. Any proposal delivered after the proposal deadline will not be considered. Faxed transmissions are not acceptable. The completed proposal are to be sent to the attention of:
Also send one electronic copy marked “REDACTED”. The redacted copy should exclude all material from your proposal that you believe in good faith is exempt from disclosure under the California Public Records Act (Cal. Gov. Code Sections 6250 et seq.) (described in Section VII of this RFP). Redactions should appear as blacked out material or blank page(s) with the word “REDACTED” or “PROPRIETARY” inserted.
Questions Relating to This RFP
Direct all questions, inquiries, and requests for additional information concerning this RFP to Jude Pérez no later than 3:00 PM March 28, 2022 by e-mail (firstname.lastname@example.org). All questions received and responses thereto will be posted on LACERA’s website (www.lacera.com) under the "RFP Opportunities" section on or about 3:00 PM April 4, 2022.
The following is a tentative schedule for this search. The evaluation and staff recommendation phases are subject to modification by LACERA.
- LACERA RFP Issued
- March 18, 2022
- Submission – Letter of Intent (Firm)
- March 25, 2022
- Submission – RFP Questions Deadline (Firm)
- March 28, 2022
- LACERA Response to Written Questions
- April 4, 2022
- Submission – RFP Response Deadline
- April 15, 2022
- Invitations to Interview, as Warranted
- 2Q-3Q 2022
- Board of Investments Deliberation/Selection
- 3Q-4Q 2022