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LACERA approves $150m commitment

The US public pension has backed a diversified fund.

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Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $54.84bn
Allocation to alternatives: 29.4%
Bitesize: $50-100m

Los Angeles County Employees’ Retirement Association has agreed to commit up to $150 million to Advent International GPE IX, as confirmed in an email to Private Equity International. The global buyout and growth equity fund is managed by Advent International.

The $54.84 billion public pension has a 10 percent target allocation to private equity that currently stands at 10.30 percent.

As illustrated in the charts below, LACERA has made several commitments to private equity funds with a 2018 vintage which combined constitute $715 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.