LACERA approves $250m in commitments

The US public pension has backed two North America-focused buyout vehicles.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $71.98 billion
Allocation to alternatives: 26.7%

Los Angeles County Employees’ Retirement Association has committed up to $250 million across two private equity vehicles at its September 2021 investment board meeting, a contact at the pension informed Buyouts.

The commitments comprised $150 million to Atlantic Street Capital V and $100 million to STG Allegro. Both commitments were made to the pension’s existing managers.

As of July 30, the value of its private equity portfolio was approximately $9.9 billion, which accounted for 13.7 percent of its investment portfolio.

As illustrated below, LACERA’s recent private equity commitments have been to vehicles employing a variety of strategies targeting investments primarily in North America and Europe.

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