Private Credit Investment Management Services
Proposal Due Date: May 7, 2021 at 4:00 PM PST
The Los Angeles Fire and Police Pension Plan (LAFPP) is a defined benefit public pension plan serving approximately 26,000 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 contract to the Board and monitored by in-house Investment Staff. The current total value of the pension fund is approximately $28 billion.
The Board desires to retain a consultant/advisor to manage the Plan’s newly created private credit portfolio of commingled private credit funds. The Board has adopted a 2% target allocation to the asset class with 60% going into private credit funds and 40% to levered bank loans that fall outside the scope of this mandate. The portfolio will start with $300 million in commitments and may increase in the future.
Firms meeting the listed minimum criteria in the Request for Proposal (RFP) are invited to return a completed RFP Questionnaire and supporting documents.
If you would like the Word document for the RFP Questionnaire (RFP pages 5-12), please submit a request to Susan Liem (firstname.lastname@example.org) and Adam Perez (email@example.com).
Below are the Excel documents for the LAFPP Private Credit RFP Responses ( RFP page 14) and Private Credit Performance Data (RFP pages 15-16).