LACERS approves $205m in commitments

The US public pension has backed six diversified buyout and venture capital funds.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $17.90bn
Allocation to alternatives: 30.60%
Bitesize: $10-50m

Los Angeles City Employees’ Retirement System approved commitments of $25 million to FS Equity Partners VIII, $45 million to Advent International GPE IX, $15 million to Advent Global Technology, $50 million to Platinum Equity Capital Partners V, $35 million to TA XIII and $35 million to New Enterprise Associates 17. The funds invest in several regions across North America, Europe and Asia across a wide range of sectors including technology, healthcare and consumer goods.

The $17.90 billion US public pension has a 14 percent target allocation to private equity that currently stands at 11 percent.

As illustrated in the charts below, LACERS allocates 30.60% to alternative assets. The pension has a strong appetite for buyout and venture capital funds across North America and Europe.

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