Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $56.85 billion
Allocation to alternatives: 30.10%
Los Angeles County Employees’ Retirement Association has approved a $200 million commitment to Silver Lake Capital Partners VI, as mentioned during the institution’s June 2020 board of investments meeting.
The fund, managed by Silver Lake, is a private equity buyout fund that focuses in three sectors: media, technology, and entertainment. LACERA also invested in the fund’s predecessor that had a target size of $12.5 billion and raised approximately $15 billion.
As illustrated below, the pension’s recent private equity commitments have comprised of buyout and venture capital vehicles within North America and Europe. It currently has a 10 percent target allocation to private equity, which currently stands at 11.7 percent.
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