LA Fire & Police Narrows Core FI Search, Extends Eastern Shore Contract

The Los Angeles Fire & Police Pension System has narrowed its active core fixed income manager search to three finalists, and extended its contract with small cap core equity manager Eastern Shore Capital Management.

According to materials from its February 6 board meeting, the pension will be inviting Income Research + Management, JP Morgan Investment Management, and Longfellow Investment Management for interviews as finalists to its fixed income search that was first issued in May of last year. The three firms will be scheduled to present to the board at its March 6 session. The selected finalist will manage an $865M allocation from the pension’s 2.64% core fixed income policy target.

Los Angeles Fire & Police is extending Eastern Shore’s contract as manager of its domestic small-cap core equity portfolio for three more years, through April 30, 2028. Initially awarded in May 2020, the contract was set to expire on April 30. As of year-end 2024, the small-cap core account is valued at approximately $64.6 million.

Written By: Dakota

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LA Fire & Police Narrows Core FI Search, Extends Eastern Shore Contract

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