LACERA backs private equity buyout fund

The US public pension has backed private equity fund.

Name: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $68.87 billion

US public pension fund Los Angeles County Employees’ Retirement Association has committed $150 million to private equity vehicle STG VII-A, according to recent meeting minutes material.

Founded in 2002, Symphony Technology Group is a California-based investment firm that targets investments in software and technology companies in the US.

STG VII-A is a mid-market private equity buyout fund focusing on enterprise software and software-enabled technology service companies primarily in North America and Europe.

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