Los Angeles Fire & Police Pensions
The Los Angeles Fire & Police Pensions (LAFPP) has been making commitments to diverse managers including minorities and women, veterans, LGBTQ and persons with disabilities since 1996. This was more than three decades before the emergence of DEI. It was then that the fund’s Board created the Specialized Manager Program, the fund’s emerging managers policy. It was established to “provide the Board with opportunities to contract with managers excluded from past searches” and to “allow the Board to identify potentially talented investment management organizations in their early growth stage, and also recognizes that smaller firms may be more flexible and able to take advantage of opportunities to generate alpha because of their size.’ So, the fund believes that there is alpha generating opportunity through its program. Bryan Fujita, who has deep public and private sector finance and investing experience, is Chief Investment Officer of the $30 billion fund. He was previously Deputy Chief Investment Officer at the Los Angeles City Employees’ Retirement System where he worked for 10 years. Previously, he served as Corporate Treasury Associate at the Walt Disney Company, managing equity and fixed income investments of the company’s then $4.5 billion pension fund. He also served as Client Banking Investment Executive and Assistant Vice President of Wealth Management at Wedbush Securities, managing investment portfolios for high net worth clients.