LACERS approves €35.4m commitment

The US public pension has backed a diversified European buyout fund.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $18.30bn
Allocation to alternatives: 30.60%
Bitesize: $10-50m

Los Angeles City Employees’ Retirement System committed €35.40 million ($40 million) to Montagu VI. Capital raised by Fund VI will be used to make buyout investments in mid-sized companies throughout Northern Europe.

The $18.30 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 devotes 30.60 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for funds that target North American and European companies.

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