Los Angeles County Employees’ Retirement Association, (LACERA) Pasadena, California, has selected finalists in a search for two managers, Pensions & Investments reports. LACERA has selected Cornerstone Real Estate Advisers, Pacific Coast Capital Partners and Quadrant Real Estate Advisors as finalists. The two managers will be responsible to manage up to $400 million combined in commercial real estate debt. The final decision is expected to be made on March 9, 2011 in a board meeting. The $37 billion association issued a RFI for the search in September 2010.
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