LACERA makes $187m in commitments

The US public pension has backed two private equity funds.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $60.67bn
Allocation to alternatives: 28.70%
Bitesize: $100-200m

Los Angeles County Employees’ Retirement Association has confirmed $187 million-worth of private equity commitments to two vehicles, a contact at the pension informed Private Equity International.

The commitments comprise of $150 million to One Rock Capital III, managed by One Rock Capital Partners, and $37 million to Summit Partners Europe Growth Equity Fund III, managed by Summit Partners.

The $60.67 billion US public pension has a current allocation of 28.70 percent to alternative investments.

As illustrated below, LACERA has made ten commitments to private equity funds with a 2019 or 2020 vintage, which combined constitute $1.03 billion.

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