LACERA approves $200m in commitments

US public pension Los Angeles County Employees' Retirement Association has backed three private equity vehicles.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $75.58 billion
Allocation to alternatives: 28.8%

Los Angeles County Employees’ Retirement Association has approved $200 million in commitments across three private equity funds, according to its February 2022 investment board meeting document.

The pension committed $50 million to Storm Ventures Fund VII and $100 million to both Great Hill Equity Partners VIII and TSG9.

LACERA’s current allocation to private equity sits at 14.7 percent, under its 17 percent target allocation. As illustrated below, the US public pension’s recent private equity commitments have concentrated on consumer goods, TMT and diversified sector funds focused mostly on North American investments.

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