Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
Allocation to alternatives: 30.6%
Los Angeles City Employees’ Retirement System has committed €34.90 million ($40 million) to Gilde Buy-Out Fund VI, $20 million to Defy Partners II, $26.75 million to Spark Capital Growth Fund III, $13.75 million to Spark Capital VI, $50 million to Harvest Partners VIII and $50 million to Genstar Capital Partners IX. All funds will invest committed capital in North American companies except for Glide Buy-Out Fund VI, which will work with organisations throughout Western Europe.
The US public pension has a 12% target allocation to private equity that currently stands at 14%.
As illustrated in the charts below, LACERS currently allocates 30.6% to alternative assets. The public pension has a strong appetite for funds that invest within the consumer goods, industrials, retail and technology industries.
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