LACERA to maintain its fund commitment target for 2020

The US public pension will continue with its plan to make up to $1.6bn in commitments this calendar year.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $57.76 billion
Allocation to alternatives: 29.3%

Los Angeles County Employees’ Retirement Association intends to maintain its fund commitment target of up to $1.6 billion in 2020, according to its July 2020 meeting documents. The pension will continue to seek both new and re-up commitments in each investment strategy in its private equity programme.

The $57.76 billion US public pension plans to invest outside the US to increase its international exposure. Over the last five years, its exposure to US-managed funds has been highly concentrated at 78 percent.

As illustrated below, the pension’s recent private equity commitments have comprised buyout and venture capital vehicles within North America and Europe. The pension intends to keep its private equity allocation close to 10 percent; it currently stands at 11 percent.

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