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LACERA approves $125m commitment

The $56bn US public pension re-ups with a North American fund specialising in buyouts and expansion capital investments.

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The Los Angeles County Employees’ Retirement Association (LACERA) committed $125 million to Juggernaut Capital Partners IV at yesterday’s board meeting, Chief Investment Officer Christopher Wagner confirmed in an email.

The $56 billion US public pension re-upped with the Washington, D.C.-based investment firm after committing $75 million and $125 million to Juggernaut’s second and third vehicles, respectively.

LACERA has a 10 percent target allocation to private equity that currently stands at 9.3 percent. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.