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RFP: HEDGE FUNDS EMERGING MANAGER PROGRAM SEPARATE ACCOUNT MANAGER

The Los Angeles County Employees Retirement Association ("LACERA") is requesting proposals from qualified firms interested in providing separate account portfolio construction services for an emerging manager program of hedge funds. A separate account manager would source, conduct due diligence on, and manage a portfolio of emerging manager hedge funds. The specific services requested are further described in the Request for Proposal document.

SUBMISSION REQUIREMENTS

If you are interested in responding, please submit your Intent to Respond (Attachment C) to HFEMP@lacera.com by 5:00 PM, PT, Friday, January 24, 2020.

The completed proposal must be delivered by 5:00 PM, PT, Friday, February 14, 2020. Any proposal delivered after the proposal deadline will not be considered.

The preferred delivery method is emailing the electronic files of the completed proposal to HFEMP@lacera.com. A secondary option is mailing a USB flash drive with the electronic files to the physical address below supplemented with an email notice to HFEMP@lacera.com indicating that a USB flash drive was mailed and including the tracking number.

Mr. Chad Timko
Senior Investment Officer
LACERA
300 North Lake Avenue, Suite 850
Pasadena, CA 91101
HFEMP@lacera.com

The size of any emails should not exceed 32 megabytes. If necessary, attachments that have a large file size may be distributed across multiple emails. Faxed and mailed physical paper transmissions are not acceptable. 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 VI of this RFP). Redactions should appear as blacked out material or blank page(s) with the word "REDACTED" or "PROPRIETARY" inserted.

DEADLINE FOR RFP RESPONSE

The completed proposal must be delivered by 5:00 PM, PT, Friday, February 14, 2020. Any proposal delivered after the proposal deadline will not be considered.

Questions Relating to this RFP

All questions, inquiries, and requests for additional information concerning this RFP should be received no later than 5:00 PM, PT, Friday, January 17, 2020 and should be e-mailed to HFEMP@lacera.com. All questions received and responses thereto will be posted on LACERA's website under the "RFP Opportunities" section on or about 5:00 PM PT, Friday, January 24, 2020.

Tentative Timetable

The following is a tentative schedule for this search. The evaluation and staff recommendation phases are subject to modification by LACERA.

Task Date
LACERA RFP Issued December 27, 2019
Submission – RFP Questions Deadline January 17, 2020
LACERA Response to Written Questions January 24, 2020
Deadline to Submit Intent to Repond – Attachment C January 24, 2020
Submission – RFP Response Deadline February 14, 2020
RFP Evaluation February – April 2020
Additional Semi-Finalist Evaluation May – Q3 2020
Staff Recommendation to Board of Investments Q3 – Q4 2020

RFP Materials

RFP: Hedge Fund Emerging Manager Program Separate Account Manager
A – SAA & Benchmarks
B – Investment Policy Statement
C – Intent to Respond
D – Minimum Qualifications
E – Questionnaire
F – Diversity & Inclusion
G – Investment Management Agreement Form
H – Compliance Form
Responses to Questions