Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $72.71 billion
Allocation to alternatives: 27.5%
Los Angeles County Employees’ Retirement Association has committed up to $100 million to Accel-KKR Growth Capital Partners IV, according to its January 2022 investment board meeting document.
The pension previously committed $50 million to the fund’s predecessor, Accel-KKR Growth Capital Partners III, which held a final close at $680 million in 2019, exceeding its target of $500 million.
As of 30 September, the value of its private equity portfolio was approximately $10.32 billion, which accounted for 14.2 percent of LACERA’s investment portfolio.
As illustrated below, LACERA’s recent private equity commitments have been to vehicles employing a variety of strategies targeting investments primarily in North America.
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