Insight

LACERA approves $200m in commitments

The US public pension has backed three private equity vehicles.

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Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $63.85 billion
Allocation to alternatives: 25.6%

Los Angeles County Employees’ Retirement Association has committed $200 million across three private equity vehicles, according to the pension’s January 2021 investment board meeting report.

The commitments comprise $100 million to Novacap International TMT VI and $100 million total to LAV Fund VI and LAV Fund VI Opportunities, managed by Lilly Asia Ventures.

As illustrated below, LACERA’s recent private equity commitments have been to buyout and venture capital vehicles within North America and Europe. The pension currently allocates 12.3 percent of its full investment portfolio to private equity.

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