The Los Angeles County Employees Retirement Association (LACERA) is considering hiring an emerging real estate manager. The mandate will initially be worth $50m (£35m) with the value rising up to $150m (£105m) over three years.
Gloria Gil, real estate investment officer for the fund, said that although the $32bn (£22.4bn) pension fund was planning to look for emerging real estate managers, a formal search would only begin if the fund believed that there was sufficient number of applicants to make the process worthwhile.
Townsend Group is assisting LACERA with the research, although Gil added that as yet, no formal time scale had been set regarding a search or hire.
By Geoffrey Ho
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.