US pension fund targets global EM equity via new mandate

Managers had until the end of February 15 (Los Angeles time) to meet an RFP deadline for a new global emerging markets equity mandate from the LA County Employees Retirement Association (Lacera). Sources suggest the $37 billion fund, which administers the largest county retirement system in the US, would allocate up to $250 million to successful managers in what is a major push into the asset class. The mandate would appeal to firms that run their global emerging market strategi…