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LACERA discloses $55m in commitments

The US public pension has completed two co-investment commitments alongside fund managers.

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Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $71.57 billion
Allocation to alternatives: 26.7%

Los Angeles County Employees’ Retirement Association has committed $55 million alongside two fund managers, according to the pension’s August 2021 investment board report.

The commitments comprise a $40 million co-investment alongside Oak Hill Capital and a $15 million co-investment alongside AE Industrial Partners.

The pension also recently rehired StepStone Group as its private equity consultant, as previously reported by Private Equity International.

As illustrated below, LACERA currently allocates 13.8 percent of its investment portfolio to private equity. The pension has recently completed three co-investment commitments focused on investments in North America.

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