LACERS approves new PE commitments

The US pension has backed two new buyout funds.

Name: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, US
AUM: $21.3 billion
Allocation to private equity: 17.95%

Los Angeles City Employees’ Retirement System has committed to two new buyout funds, as revealed at its 28 February board meeting.

The pension fund committed up to €76 million to Vitruvian Investment Partners V, a buyout fund targeting investment in Western Europe. Furthermore, a commitment of up to $60 million was made to GTCR XIV. Fund XIV targets investments into Healthcare, TMT and business and financial services.

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