The Los Angeles Fire and Police Pension Plan (LAFPP) is a defined benefit public pension plan serving approximately 27,000 active and retired Plan members and beneficiaries.  The Plan is directed by the nine-member Board of Fire and Police Pension Commissioners and is administered by the City of Los Angeles Department of Fire and Police Pensions.

The Plan’s assets are managed externally by investment management firms and consultants under contracts to the Board monitored by in-house investment staff.  The current total market value of the pension fund is approximately $30 billion.

The Board seeks one qualified fixed income asset manager to actively manage up to approximately $775 million in a core fixed income strategy through a separately managed account.  Firms meeting the Minimum Qualifications (MQs) must be registered in the eVestment database with complete firm and strategy information (as of March 31, 2024) no later than May 31, 2024 to be considered for the mandate.

This search will be invite-only based on the results of the eVestment screen of core fixed income strategies that meet the MQs as of March 31, 2024.

Please contact Miki Shaler at [email protected] for questions.

MQs – Core Fixed Income Search
The Board approved the following Minimum Qualifications (MQs), applicable as of March 31, 2024, for a search to hire one investment manager to provide active core fixed income management services:

1. The core fixed income strategy must be offered in a separate account;
2. The firm must have at least one core fixed income strategy with a minimum 5-year track record;
3. The core fixed income strategy must have at least $3.1 billion in assets under management (AUM); and,
4.  The core fixed income strategy must have at least one existing separate account with at least $500 million in AUM.