LACERA approves $250m in commitments at March 2022 investment board meeting

US public pension Los Angeles County Employees' Retirement Association has backed three private equity vehicles.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $75.58 billion
Allocation to alternatives: 28.8%

Los Angeles County Employees’ Retirement Association has approved $250 million in commitments across three private equity funds, according to its March 2022 investment board meeting document.

The pension committed $50 million to Thoma Bravo Discover Fund IV and $100 million to both AE Industrial Partners III and Thoma Bravo XV.

LACERA’s current allocation to private equity sits at 14.7 percent, under its 17 percent target allocation. As illustrated below, the US public pension’s recent private equity commitments have concentrated on consumer goods, TMT and diversified sector funds focused on North American vehicles.

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