State Street and Los Angeles County Employees Retirement Association Announce Expanded Service Agreement
January 26 2021 - 1:16PM
Business Wire
State Street Corporation (NYSE:STT) today announced that they
have expanded their relationship with Los Angeles County Employees
Retirement Association (LACERA). State Street will now provide
additional solutions for performance and analytics, as well as
alternative administration for LACERA’s real estate assets. The
enhanced 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 is an independent governmental entity that administers
and manages the retirement fund for the County of Los Angeles and
outside districts. They are one of the largest county retirement
systems in the Unites States.
State Street’s multi-asset class platform offers asset
allocators a single view that provides insights into performance,
risk and cash management. The platform’s underlying functionally, a
combination of State Street’s data management capabilities within
the Alpha platform and integration with Solovis®, a strategic
partner of State Street, allows allocators to calculate performance
in greater detail at every level of a portfolio with all available
data points, calculate liquidity on select investments or for the
whole portfolio, and analyze exposures across public and private
assets.
“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,” said Rob Baillie, head of State Street’s Asset Owner
Business for North America. “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.”
About State Street Corporation State Street Corporation
(NYSE: STT) is one of the world's leading providers of financial
services to institutional investors including investment servicing,
investment management and investment research and trading. With
$38.8 trillion in assets under custody and/or administration and
$3.5 trillion* in assets under management as of December 31, 2020,
State Street operates globally in more than 100 geographic markets
and employs approximately 39,000 worldwide. For more information,
visit State Street's website at www.statestreet.com.
* Assets under management as of December 31, 2020 includes
approximately $75 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2021 State Street Corporation - All Rights Reserved
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Brendan Paul Bpaul2@statetstreet.com 401-644-9182
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