LACERS approves $185m in commitments

The US public pension has backed six private equity funds.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $17.06bn
Allocation to alternatives: 30.6%

The Los Angeles City Employees’ Retirement System announced commitments of $25 million to Baring Asia Private Equity Fund VII, $15 million to Polaris Growth Fund I, $40 million to ABRY Advanced Securities Fund IV, $25 million to TCV X, $40 million to Hellman & Friedman Capital Partners IX and $40 million to Vista Equity Partners Fund VII, according to a document from a board meeting held on 8 January.

The $17.06 million public pension system has a 12% target allocation to private equity that currently stands at 9.79%.

As illustrated in the charts below, LACERS has allocated 30.6% to alternative assets. It is the first round of commitments that the pension has announced in 2019.

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