Insight

LACERA approves $100m commitment

The US public pension has re-upped with Excellere Partners.

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Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $65.45 billion
Allocation to alternatives: 25.6%

Los Angeles County Employees’ Retirement Association has committed $100 million to Excellere Capital Fund IV, according to the pension’s March 2021 investment board meeting document.

According to the document, the fund focuses on investments in lower-middle-market companies within the healthcare sector in the US.

As illustrated below, LACERA’s recent private equity commitments have been to buyout and venture capital vehicles within North America and Asia-Pacific. The pension has a 10 percent target allocation to private equity that currently stands at 12.3 percent.

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