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LACERS reveals new PE commitments

The US public pension has backed a number of private equity funds.

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Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, US
AUM: $20.8 billion
Allocation to private equity: 18.47%

The Los Angeles City Employees’ Retirement System has revealed a host of commitments in its May meeting materials.

The US public pension fund made two commitments to venture capital firm GGV Capital, with $40 million slated for GGV Capital IX, and another $10 million for GGV Capital IX Plus. Both are TMT-focused venture capital funds.

A total of $25 million was allocated to Barings Emerging Generation Fund II, as well as another $50 million towards Hellman & Friedman Capital Partners XI.

The largest commitment was made to TA XV, with the pension fund allocating $60 million to the fund.

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