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 agreed to retain Meketa Investment Group as its investment consultant, a source informed Private Equity International. The contract extension covers the period from January 2021 through January 2022. The pension intends to issue a new RFP for investment consulting services after completion of its asset allocation study in 2021.
The pension has also recommended increasing Meketa’s current annual management fee of $395,000 by $20,000 as the contract originated in 2016.
As illustrated below, the public pension allocates 11.7 percent of its full investment portfolio to private equity. The chief investment officer is Jonathan Grabel.
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