BOSTON--(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 .
* 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.
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