RFP: Real Estate Consulting Services Search

The Los Angeles County Employees Retirement Association (LACERA) is requesting proposals from qualified firms for real estate consulting services.

Scope of Work

The purpose of this RFP is to select a consultant to provide consulting services for direct investments by LACERA in real estate, by making such investments through limited partnerships, commingled vehicles, co-investments, emerging mangers, funds of one, and other investment structures. The program will encompass the following aspects at a minimum:

Strategic Consulting

Provide recurring recommendations for policy, objectives and strategy that are consistent with the Investment Policy Statement
Provide the Board of Investments with independent assessment of staff’s implementation of Board approved policies and guidelines that related to the real estate portfolios
Conduct comprehensive written research, analysis, and advice on specific investment and operational topics and issues

Sourcing and Due Diligence

Conduct independent evaluations and provide concurrence memoranda on investment opportunities

Meeting Attendance

Attend monthly Board of Investments meetings, annual off-site meetings, committee meetings, and other meetings as requested by LACERA

Collaboration with Board, Staff, and General Consultant

Provide educational workshops to the Board
Collaborate with LACERA’s general consultant providing ongoing advice and technical support in the establishment and refinement of portfolio asset allocation, investment goals and objectives, and Investment office policies and procedures

Submission Requirements

Submit your Intent to Respond (Attachment A) no later than 3:00 PM Pacific Time, on Friday, March 13, 2026, as well as your completed RFP proposal no later than 3:00 PM Pacific Time, on Friday, April 3, 2026 to:

Terri Herubin
Senior Investment Officer
LACERA
realestate@lacera.gov

Also email one copy marked “REDACTED”. The redacted copy should exclude all material from your proposal that you believe in good faith is exempt from disclosure under the California Public Records Act (Cal. Gov. Code Sections 7920 et seq.) (described in Section VII of this RFP). Redactions should appear as blacked out material or blank page(s) with the word “REDACTED” or “PROPRIETARY” inserted.

Questions Related to This RFP

Direct all questions, inquiries, and requests for additional information concerning this RFP no later than 3:00 PM Pacific Time, Friday, March 13, 2026, via e-mail (realestate@lacera.gov). All questions received and responses thereto will be posted on LACERA’s website under the "Business Opportunities" section by 3:00 PM Pacific Time, on Friday, March 20, 2026.