LACERA approves up to $100m commitment

The $56bn US public pension invests in a fund manager focusing on the aerospace industry.

The Los Angeles County Employees’ Retirement Association (LACERA) committed up to $100 million in AE Industrial Partners II at today’s board meeting, Chief Investment Officer Christopher Wagner confirmed in an email. This commitment marks LACERA’s first limited partnership with the Florida-based aerospace investor.

The $56 billion US public pension has a current allocation to private equity of 9 percent, slightly below its 10 percent target. Platinum subscribers may click here for LACERA’s full profile, including key contacts, allocation strategy and fund investments.