LACERA confirms $200m commitment

The US public pension has re-upped with Clearlake Capital Group.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $71.98 billion
Allocation to alternatives: 26.7%

Los Angeles County Employees’ Retirement Association has committed up to $200 million to Clearlake Capital Partners VII, a contact at the pension confirmed to Private Equity International.

The pension previously committed $160 million to the fund’s predecessor Clearlake Capital Partners VI, which held a final close at $7.1 billion in April 2020, exceeding its target by over $2 billion.

As of 30 July, the value of its private equity portfolio was approximately $9.9 billion, which accounted for 13.7 percent of LACERA’s investment portfolio.

As illustrated below, LACERA’s recent private equity commitments have been to vehicles employing a variety of strategies targeting investments primarily in North America.

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