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LACERS approves $105m in commitments

The Los Angeles pension has backed four private equity buyout funds.

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Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $16.46bn
Allocation to alternatives: 30.6%

The Los Angeles City Employees’ Retirement System has committed $15 million to Roark Capital Partners V, $10 million to Roark Capital Partners II Sidecar, $40 million to ABRY Partners IX and €34.9 million ($40 million) to Astorg VII. All four buyout funds will invest in the business services industry and three of the four funds will provide capital to companies throughout North America (Astorg VII will focus exclusively on Western Europe).

The US public pension has a 12% target allocation to private equity that currently stands at 9.79%.

As illustrated in the charts below, LACERS has also allocated capital to real estate and private debt. The pension has a global appetite for funds across multiple strategies, especially within the North American and Western European regions.

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