Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $66.36 billion
Allocation to alternatives: 25.4%
Los Angeles County Employees’ Retirement Association has committed $250 million across three private equity vehicles, according to the pension’s April 2021 investment board meeting document.
In addition to the fund commitments, the pension also disclosed investments made alongside managers. Investments included $15 million alongside Storm Ventures; $20 million each alongside Onex Partners and Lightyear Capital.
As illustrated below, LACERA’s recent private equity commitments have been to buyout and venture capital vehicles within North America and Asia-Pacific. The pension has a 10 percent target allocation to private equity that currently stands at 12.4 percent.
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