LACERA approves up to $225m in commitments

The US public pension has backed two growth equity focused private equity funds.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, United States
AUM: $54.03bn
Allocation to Alternatives: 29.4%
Bitesize: $50-100m

Los Angeles County Employees’ Retirement Association has agreed to commit up to $225 million to two private equity funds, as confirmed by a representative within the organization.

The commitments comprise of up to $150 million to TA Associates XIII, and up to $75 million to Vinci Capital Partners III.

The $54.03 billion public pension has a 10 percent target allocation to private equity that currently stands at 10.30 percent.

As illustrated in the charts below, LACERA has made several commitments to private equity funds with a 2018 vintage which combined constitute $715 million. Commitments to TA Associates and Vinci Capital respectively are the first made by LACERA in the fiscal year 2019.

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