Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $59.96 billion
Allocation to alternatives: 25.3%
Los Angeles County Employees’ Retirement Association has agreed to issue a request for proposal for a private equity consultant at its December 2020 investment board meeting, a contact informed Private Equity International.
StepStone Group, the pension’s current private equity consultant, has a five-year contract that expires in October 2021.
As illustrated below, LACERA currently allocates 11.8 percent of its investment portfolio to private equity. As of 31 October, the value of its private equity portfolio was approximately $7.1 billion. The pension’s chief investment officer is Jonathan Grabel.
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