LACERA to maintain fund commitment momentum amid Covid-19

The US public pension intends to continue making commitments to private equity funds in 2020.

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 intends to maintain the pace of its fund commitments over the next 12 months in light of Covid-19. A contact at the public pension informed Private Equity International that while the Covid-19 pandemic will be one of the factors that the institution considers in the coming months, the quality of opportunities and LACERA’s overall assessment of the marketplace will determine future commitments. The public pension’s pacing model for calendar year 2020 recommends $1.6 billion in fund commitments.

The $60.67 billion US public pension has a current allocation of 28.70 percent to alternative investments. The pension fund also invests in assets classes such as infrastructure and private real estate.

As illustrated below, LACERA has made seven commitments to private equity funds with a 2019 vintage, which combined constitute $800 million.

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