LACERA approves $250m in commitments at May 2020 Board of Investments meeting

The US public pension has backed three private equity funds.

Institution: Los Angeles County Employees Retirement Association
Headquarters: Pasadena, United States
AUM: $54.51bn
Allocation to alternatives: 31.10%
Bitesize: $100-200m

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.

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