The $12bn Los Angeles Fire and Police Pension System has awarded TCW Group a $250m US large cap growth equities mandate.
Tom Lopez, the fund's chief investment officer, said that TCW fund manager Glen Bickerstaff would be running the mandate. The fund was assisted by Pension Consulting Alliance (PCA).
Additionally, the fund is in the process of selecting managers to run a $80m-$100m US high yield bond mandate. Lopez said that PCA and the fund were reviewing applications, and that an appointment will be made in August.
The $12bn fund has - since January 16, 2001 - approximately $4.6bn in US large capitalisation equities; $941m in US small capitalisation equities; $1.6bn in international equities; $218m in international emerging market equities; $2.6bn in core bond holdings; $616m in high yield bond holdings; $357m in alternative investment holdings; $713m in real estate investments; and $260m in cash.
By Geoffrey Ho
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Reuters Pension Fund has completed a £625m full pensioner buy-in with Canada Life in the insurer's largest ever deal.
Anthony Arter will continue as head of The Pensions Ombudsman (TPO) until 31 July 2021, the Department for Work and Pensions (DWP) has announced.
The Nottinghamshire County Council Pension Fund has hired Kames Capital to run a £22m property mandate.