LACERA makes $70m commitment

The US public pension has backed a North American secondaries vehicle.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $59.96 billion
Allocation to alternatives: 25.3%

Los Angeles County Employees’ Retirement Association has committed $70 million to Ampersand Continuation Fund, according to the pension’s December 2020 investment board meeting document.

As illustrated below, LACERA’s recent private equity commitments have been to buyout and venture capital vehicles within North American and Europe. The pension has a 10 percent target allocation to private equity that currently stands at 11.8 percent.

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