The Los Angeles County Employees Retirement Association ("LACERA") is requesting proposals from qualified firms interested in providing non-discretionary consulting services for hedge funds, credit, and real assets (excluding real estate and TIPS) investments. The specific services requested via this Request for Proposal (“RFP”) are contained in the Scope of Work.

Scope of Work

The purpose of this RFP is to select one or more consultants to provide consulting services for investments by LACERA in hedge funds, credit, and real assets, by making such investments through limited partnerships, dedicated managed accounts, separate accounts, funds of one, co-investments, commingled vehicles, and other investment structures.

LACERA will consider proposals for one or more of the following three service categories: (1) a hedge funds investment consultant, (2) a credit investment consultant, or (3) a real assets investment consultant. The proposal must demonstrate that the consultant is capable of providing advice and recommendations for the service category(ies) proposed. Proposals must identify the scope of services offered under appropriate descriptive headings and specify any asset categories, strategies, or vehicles excluded from the services offered.

Firms are invited to submit proposals for one, two, or all three of the investment consulting services described above. However, the proposal must clearly identify the mandate(s) in which the firm is responding to in the Letter of Intent and Executive Summary documents of the submission.

Submission Requirements

Submit your Intent to Respond (Attachment A) via email by 3:00 PM PDT, January 29, 2024, as well as your completed proposal (electronic copy via email) by 3:00 PM PDT, February 9, 2024. Any proposal delivered after the proposal deadline will not be considered. Faxed transmissions are not acceptable. The email transmission of the completed proposal are to be sent to the attention of:

Quoc Nguyen
Investment Officer
LACERA
300 North Lake Avenue, Suite 850
Pasadena, CA 91101
multiconsultantsearch@lacera.com

Also email 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 7920.000 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. See Notice to Respondents Regarding the Public Records Act and Ralph M. Brown Act below for limitations on any such redactions. LACERA has sole discretion over public release of all submitted material.

Questions Relating to This RFP

All questions, inquiries, and requests for additional information concerning this RFP should be received no later than 3:00 PM PDT, Friday, January 19, 2024, and should be emailed to multiconsultantsearch@lacera.com . All questions received and responses thereto will be posted on LACERA's website (www.lacera.com) under the "Business Opportunities" section (follow on the website: About LACERA/Who We Are/Business Opportunities) on or about 3:00 PM PDT, January 26, 2024.

Tentative Timetable

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

LACERA RFP Issued

December 29, 2023

Submission – RFP Questions Deadline (Firm)

January 19, 2024

LACERA Response to Written Questions

January 26, 2024

Submission – Letter of Intent (Firm)

January 29, 2024

Submission – RFP Response Deadline

February 9, 2024

Notification of Firms Past First Round (Tentative)

March 29, 2024

Notification of Advancement (Tentative)

April 30, 2024

Board of Investments Interviews (Tentative)

June 12, 2024

Selection Announced (Tentative)

June 12, 2024

RFP Materials