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RFP: DEDICATED MANAGED ACCOUNT SERVICES

The Los Angeles County Employees Retirement Association ("LACERA") is requesting proposals from qualified firms interested in providing dedicated managed account services. The purpose of this RFP is to identify a solutions provider(s) for a dedicated managed account ("DMA") platform which would allow LACERA to invest in hedge funds and other alternative investment strategies (e.g., illiquid credit strategies) in DMA structures where LACERA is the sole investor of each account, controls custody of the account assets, and has the ability to customize investment strategy mandates. 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 DMA@LACERA.com by 5:00 PM, PDT, Friday, January 10, 2020.

The completed proposal must be delivered by 5:00 PM, PT, Friday, January 31, 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 DMA@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 DMA@LACERA.com indicating that a USB flash drive was mailed and including the tracking number.

Mr. Quoc Nguyen
Investment Officer
LACERA
300 North Lake Avenue, Suite 850
Pasadena, CA 91101
DMA@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 only 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, PDT, Friday, January 31, 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, PDT, Friday, December 20, 2019 and should be e-mailed to DMA@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 PDT, Wednesday, January 8, 2020.

For a Microsoft Word version of any of the RFP documents, send a request to DMA@LACERA.com.

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 6, 2019
Submission – RFP Questions Deadline December 20, 2019
LACERA Response to Written Questions January 8, 2020
Submission – Intent to Respond January 10, 2020
Submission – RFP Response Deadline January 31, 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: Dedicated Managed Account Services
A – SAA & Benchmarks
B – Investment Policy Statement
C – Intent to Respond
D – Minimum Qualification
E – Questionnaire
F – Diversity & Inclusion
G – Investment Management Agreement
H – Placement Agent Disclosure and SEC Compliance Form
Responses to Questions