Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, US
AUM: $23.31 billion
Allocation to alternatives: 25.99%
The fund commitments comprise $75 million to Clearlake Capital Partners VII, $50 million to HarbourVest Partners VI, $50 million to TPG Rise Climate Fund, $30 million to Advent Global Technology II and $25 million to Barings Emerging Generation Fund.
LACERS has a 16 percent target allocation to private equity, which currently stands at 14.53 percent.
As illustrated below, the $23.31 billion public pension devotes 25.99 percent of its full investment portfolio to alternative assets. The pension’s recent private equity commitments have tended to focus on global venture capital and buyout vehicles that invest across a variety of sectors.
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