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...
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