RFP: Search For Long-Term U.S. Treasury Manager
The Los Angeles County Employees Retirement Association (LACERA) is evaluating the capabilities of firms that offer long-term U.S. treasury investment management services.
Scope of Work
LACERA is seeking investment managers offering passive long-term U.S. treasury strategies, not to include multi-strategy or carve-out strategies. The expected size of the long-term U.S. treasury mandate will be approximately $3.5 billion and will be benchmarked to the Bloomberg Barclays Long-Term U.S. Treasury Bond index. The amount allocated to an individual manager will depend on the firm’s total assets in the proposed strategy, total assets under management, and LACERA’s allocation to long-term U.S. Treasurys at the time of funding. LACERA’s preference is for passive long-term U.S. treasury mandates that are managed in a separate account held at LACERA’s custody bank.
Submission Requirement
Please fill out the attached questionnaire, placement agent disclosure and SEC compliance form, and supplemental information. Responses to the questionnaire should be limited to a maximum of 25 pages, double-sided, 12 point size font using Microsoft Word (a version compatible with MS Word 97). Submit your electronic copy to: acheng@lacera.com and cc: fixedincometeam@lacera.com.
Mr. Adam Cheng
Sr. Investment Analyst
LACERA
Gateway Plaza
300 North Lake Avenue, Suite 850
Pasadena, CA 91101-4199
E: acheng@lacera.com
Also, send one 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. Government Code section 6250 et seq. (described in Section VI of this RFP). Redactions should appear as blacked out material or blank page(s) with the word “REDACTED” or “PROPRIETARY” inserted.
In addition, please send an electronic copy of your response to Mr. Imran Zahid, Senior Investment Analyst, Meketa Investment Group, at: izahid@meketa.com.
Questions Relating to This RFP
If a question appears unclear, please state your interpretation of the question and answer it accordingly. Respondents are requested to not contact LACERA personnel for meetings, conferences, or discussions related to this RFP.
- LACERA RFP Issued
- October 1, 2021
- Submission – RFP Response Deadline
- October 22, 2021
- Invitations to Interview, as Warranted
- Q1 2022
- Board of Investments Deliberation/Selection
- Q2 2022