LACERS approves $45m in commitments

The US public pension has backed three North America-focused venture capital funds.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $18.28bn
Allocation to alternatives: 30.60%
Bitesize: $10-50m

Los Angeles City Employees’ Retirement System committed $10 million to P4G Capital Fund I, $25 million to Oak HC/FT Partners III and $10 million to Sunstone Partners II. The three funds will invest in early stage companies throughout North America across a variety of sectors including technology, healthcare, and financial services.

The $18.28 billion US public pension has a 14.00 percent target allocation to private equity that currently stands at 11.00 percent.

As illustrated in the charts below, 30.60 percent of LACERS’ investment portfolio is dedicated to alternative assets. The pension has a strong appetite for technology-focused funds across Europe and North America.

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