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RFP: Syndicated Bank Loan Investment Management Services

The Los Angeles County Employees Retirement Association (LACERA), a $54 billion public pension fund, is evaluating the capabilities of firms that offer Syndicated Bank Loan investment management services.

Scope of Work

LACERA is seeking investment managers offering dedicated Syndicated Bank Loan strategies, not to include multi-strategy or carve-out strategies. LACERA’s target allocation to bank loans is 4% of the Total Fund, with a range of 0 to 6%. The actual allocation, as of February 2019, is approximately 1.5%. The anticipated funding size is $1 billion to be split between no less than 2 managers. The actual amount allocated to an individual manager will depend on the firm’s total assets in the proposed strategy and total assets under management. LACERA’s preference is for a separate account.

As the result of recent labor negotiations, LACERA has agreed to engage a third-party subject matter expert to conduct a classification study for the specified represented positions. The study will include positions in our Document Processing Center and Staff Assistants in various divisions.


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 one (1) copy of your written response and one (1) electronic copy, on a flash drive to:

  • Mr. Robert Z. Santos
  • Investment Officer
  • 300 North Lake Avenue, Suite 850
  • Pasadena, CA 91101

Also, send one unbound 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, send one electronic copy of your written responses to:

  • Ms. Colleen Smiley
  • Sr. Vice President
  • Meketa Investment Group, Inc.
  • 5796 Armada Dr. Suite 110
  • Carlsbad, CA 92008

Following the evaluation of the written responses, LACERA may invite managers for interviews.

Deadline for RFP Response

Completed responses must be received no later than 3:00 PM (PST) on Friday, May 10, 2019. Responses received after the specified deadline may be considered for evaluation solely at the discretion of LACERA.


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