Los Angeles Fire & Police Pension System is seeking international equity managers to run passive international large-cap core equity, active international large-cap growth equity, active smidcap equity and active emerging markets equity, Pensions & Investments reports. The $14.2 billion system is expected to allocate $400 million for the passive account and $280 million for the smidcap. Both the mandates are new.
The mandates will be funded by reducing the portfolios of the current international developed markets managers, Brandes Investment Partners, Artio Global Investors, Fisher Investments and McKinley Capital Management. The system will also assign funding from the $200 million emerging markets equities portfolio managed by Marvin & Palmer Associates, which was terminated due to performance.
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