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