Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $67.90 billion
Allocation to alternatives: 26.1%
Los Angeles County Employees’ Retirement Association has approved a €100 million commitment to GHO Capital III at its May 2021 investment board meeting, a contact at the pension informed Private Equity International.
The fund’s predecessor, GHO Capital II, held a final close at €975 million in November 2019, exceeding its €800 million target.
As illustrated below, LACERA’s recent private equity commitments have been to buyout and venture capital vehicles within North America and Asia-Pacific. The $67.90 billion pension has a 10 percent target allocation to private equity that currently stands at 13.1 percent.
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