Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $57.01bn
Allocation to alternatives: 23.3%
Bitesize: $50-100m
Los Angeles County Employees’ Retirement Association committed $150 million to Accel-KKR Capital Partners VI. The buyout fund will invest in North American software and technology companies within the lower-middle market.
The US public pension has a 10% target allocation to private equity that currently stands at 9.50%.
As illustrated in the charts below, LACERA currently allocates 23.3% to alternative assets. The pension has a strong appetite for venture capital technology funds.
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