Institution: Los Angeles County Employees Retirement Association
Headquarters: Pasadena, United States
AUM: $56.85 billion
Allocation to alternatives: 30.1%
Los Angeles County Employees’ Retirement Association has approved a €200 million commitment to CVC Capital Partners VIII, as mentioned during the institution’s June 2020 board of investments meeting.
The fund, managed by CVC Capital Partners, is a European-focused private equity buyout fund that focuses on multiple sectors including consumer, healthcare, industrials and financials.
As illustrated below, LACERA’s recent private equity commitments have comprised buyout and venture capital vehicles within North America and Europe. The public pension currently has a 10 percent target allocation to private equity, which currently stands at 11.7 percent.
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