Los Angeles County Employees’ Retirement Association (LACERA) has appointed Quadrant Real Estate Advisors and Cornerstone Real Estate Advisors, Pensions & Investment reports. The two real estate advisors will manage $200 million each in commercial real estate debt separate accounts.
The $38.6 billion association will determine financing for the investments in the new sub-asset class based on the fund’s asset allocation. The association’s board had issued a proposal request for the hiring of managers in September 2010.
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