Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Los Angeles, United States
Allocation to alternatives: 29.40%
The Los Angeles County Employees’ Retirement Association has agreed to commit $100 million to LAV Biosciences Fund V, according to a contact at the pension. The venture capital fund, launched by Lilly Asia Ventures, will invest in the life sciences and healthcare sectors.
The $54.84 billion public pension system has a 10% target allocation to private equity that currently stands at 10.3%.
As illustrated in the charts below, LACERA has allocated 29.40% to alternative assets. Its commitment to LAV Biosciences Fund V is the first of 2019.
Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.