Institution: Los Angeles County Employees Retirement Association
Headquarters: Pasadena, United States
Allocation to alternatives: 31.10%
Los Angeles County Employees’ Retirement Association has approved $250 million-worth of private equity commitments across three vehicles, as mentioned during the institution’s May 2020 Board of Investments meeting.
The commitments comprise of $100 million each to Canaan XII and Thoma Bravo Fund XIV, as well as $50 million to Thoma Bravo Discover Fund III.
The $54.51 billion US public pension has a 10 percent target allocation to private equity that currently stands at 12.1 percent.
As illustrated below, LACERA’s most recent private equity commitments have focused on buyouts and venture capital funds.
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