Los Angeles Water & Power Employees’ Retirement Plan named five finalists in its search for a real estate consultant, said Jeremy Wolfson, chief investment officer.
The $18.3 billion pension fund issued an RFP in September. The pension fund’s incumbent real estate consultant is StepStone Real Estate, which inherited the contract of Courtland Partners in 2018 following its acquisition of that firm.
StepStone is one of the five finalists, along with Albourne Partners, Callan, Meketa Investment Group and Townsend Group.
Interviews will likely take place at the Feb. 24 board meeting, Mr. Wolfson said. A selection is expected shortly thereafter.
As of Nov. 30, the actual allocation to real estate was 6.8%; the target is 7%.