Sparks fly, tempers flare as LA City halts search for new PE consultant

Los Angeles City Employees’ Retirement System, pension fund, private equity
People walk on the Venice boardwalk, a popular tourist destination in Venice, California November 7, 2014. Venice Beach, one of the few spots in car-choked Los Angeles with a vibrant street life, has been a cultural melting pot for more than half a century, welcoming everyone from hippies and homeless wanderers to the latest generation of tech executives. The neighborhood known for its palm trees and cool Pacific breezes has been on a winning streak in recent years, transforming from the "Slum by the Sea" into "Silicon Beach", thanks to the digital giants who have set up shop. Photo courtesy of REUTERS/Jonathan Alcorn - RTR4E3JE
  • LACERS aborts search for new PE consultant, to relaunch process
  • Accusations hurled at Portfolio Advisors, TorreyCove, LACERS staff in contentious July 11 meeting
  • LACERS to extend Portfolio Advisors contract, firm is unlikely to submit to next RFP
Los Angeles City Employees’ Retirement System pulled the plug on its 10-month search for a consultant to its $1.5 billion PE program after its July 11 board meeting fell into a rhetorical gutter. Board Member Nilza Serrano accused a finalist ...

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