State Street has extended its relationship with the Los Angeles County Employees Retirement Association (LACERA) to provide additional solutions for performance and analytics, as well as alternative administration for the association’s real estate assets.
The new agreement will also enable LACERA to access State Street’s multi-asset class portfolio management and analytics platform that has been specifically designed for asset owners and allocators.
LACERA, one of the largest county retirement systems in the US, is an independent governmental entity that administers and manages the retirement fund for the County of Los Angeles and outside districts.
“We are very pleased to expand our relationship with LACERA, and to provide them with an enhanced platform and a true portfolio management experience that better aligns data, people and processes,” says Rob Baillie, head of State Street’s Asset Owner Business for North America.
According to Baillie, the needs of sophisticated institutional investors, like LACERA, continue to evolve as their multi-asset class portfolios expand.
“These complexities are driving needs in the industry to have a more precise understanding of portfolio performance and exposure. We are confident our data driven solutions will enhance LACERA’s ability to track overall performance, increase governance, and enable efficiencies in managing their total fund requirements,” Baillie adds.
Elsewhere, State Street Alpha has gained a new European client in Vontobel Asset Management.
