Los Angeles City Employees’ Retirement System (Lacers) has named three companies on a list of preapproved transition managers, Pensions & Investments reports. The selected firms are BlackRock, Mellon Transition Management and Northern Trust Corp. Bids for transition services will be made on an “as needed” basis.
The $10.8 billion system selected the firms following a request for quotation in August. Meanwhile, the board has renewed its contract with PanAgora Asset Management, which manages $127 million in active domestic small-cap value equities, for one year.
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