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The SEC and others are pushing for more transparency in private markets — but pension staffers worry about the consequences.
LACERA’s Grabel and WTW’s Vodolazschi explore this wide-ranging asset category in CIO's webinar.
“The problem is the Russian stock market hasn’t opened this week,” CalSTRS CIO Chris Ailman said.
LACERA picks PineBridge for $1 billion in high yield, slates $555 million for alts Los Angeles County Employees Retirement Association, Pasadena, Calif., hired PineBridge Investments to manage $1 billion in a high-yield separate account for the $66.4 billion pension fund, according to a closed session report from its April 14 meeting. PineBridge was the only manager selected to manage the mandate following an RFP launched in July 2020, CIO Jonathan Grabel said in an email in response to questions. LACERA's target allocation to high yield is 3%, with a range of zero to 6%. LACERA had $2.2 bil...
In 2018, the Los Angeles County Employees Retirement Association began asking prospective asset managers about diversity. The questionnaire — given to managers that responded to LACERA’s requests for proposals — asks for details on who implements firm diversity policies, how many confidential settlements or non-disclosure agreements are related to workplace sexual harassment or discrimination, and whether firms conduct a pay disparity analysis. LACERA is not the only asset allocator to make diversity and inclusion questions an explicit part of the request for proposal and sear...