LACERS approves $200m in commitments

The US public pension has backed six diversified private equity funds.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $17.52bn
Allocation to alternatives: 30.6%
Bitesize: $10-50m

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.

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