Requests For Proposals
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.
RFP and Questionnaire - Private Credit
If you would like the Word document for the RFP Questionnaire (RFP pages 5-12), please submit a request to Susan Liem (susan.liem@lafpp.com) and Adam Perez (adam.perez@lafpp.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).
FINANCIAL STATEMENT AUDIT SERVICES-#DCFS21-04
Proposal Due Date: March 19, 2021 at 5:00 PM PST
The City of Los Angeles Fire & Police Pensions (“LAFPP” or “Plan”) is seeking proposals from qualified certified public accounting firms to conduct annual audits of LAFPP’s financial statements for the fiscal years ending June 30, 2021, 2022, and 2023. Firms submitting proposals must have previous experience in auditing large Public Pension/Retirement Systems with at least $5 billion in plan net assets. LAFPP intends to award a three-year contract with a maximum fee proposal for each fiscal year.
The State of California requires all California Public Retirement Systems to furnish audited financial statements to the State Controller annually under Sections 7501-7504 of the Government Code. Audited financial statements are also required under the City of Los Angeles Charter Section 362.
To assist your firm in estimating the level of effort required to render an opinion on the compliance requirements, the Minimum Audit Requirements and Reporting Guidelines for Public Retirement Systems issued by the State of California Controller’s Office are available at https://sco.ca.gov/Files-ARD-Local/LocRep/retirement_audreqs.pdf
HEALTH CONSULTING SERVICES – #DCFS21-03
Proposal Due Date: February 12, 2021 at 5:00 PM PST
The Board of Commissioners (the Board) of the City of Los Angeles Department of Fire and Police Pensions (LAFPP) is issuing this Request for Proposals (RFP) for a retiree health benefits consulting firm to assist in the administration of the retiree health care program and oversight of medical and dental plan administration and subsidies for approximately 13,000 retired members and beneficiaries.
Proposers must have qualifications and experience advising public employers or public retirement systems on health and welfare issues, including contract negotiations of annual premium rates and benefit designs with health plan carriers, to successfully perform the required services described herein.
Resources
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2020-21 Contractor Disclosure Filing Schedule
Contract Disclosure – Reporting Form
Contractor Disclosure Reporting Form
Review the Standard Provisions for City Contracts