Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $65.45 billion
Allocation to alternatives: 25.6%
Los Angeles County Employees’ Retirement Association has committed $100 million to Excellere Capital Fund IV, according to the pension’s March 2021 investment board meeting document.
According to the investment board document, the fund focuses on investments in lower middle-market companies within the healthcare sector in the US.
As illustrated below, LACERA’s recent private equity commitments have been to buyout and venture capital vehicles within North America and Asia-Pacific. The pension has a 10 percent target allocation to private equity that currently stands at 12.3 percent.
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