LACERA Awards $400M RE Debt Mandates

Los Angeles County Employees’ Retirement Association (LACERA) has appointed Quadrant Real Estate Advisors and Cornerstone Real Estate Advisors.

Los Angeles County Employees’ Retirement Association (LACERA) has appointed Quadrant Real Estate Advisors and Cornerstone Real Estate Advisors, Pensions & Investment reports. The two real estate advisors will manage $200 million each in commercial real estate debt separate accounts.

The $38.6 billion association will determine financing for the investments in the new sub-asset class based on the fund’s asset allocation. The association’s board had issued a proposal request for the hiring of managers in September 2010.

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