Insight

LACERS commits to emerging managers

The pension will commit up to $205m to its emerging manager program.

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Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, US
AUM: $21.3 billion
Allocation to private equity: 18.4%

The Los Angeles City Employees’ Retirement System has approved up to $205 million in commitments as part of their emerging manager program.

The LACERS emerging manager program was created in 2012 to add value to the LACERS investment portfolio, while identifying managers that would typically not be hired in the investment management search process.

Last year, the US public pension fund allocated $125 million to five emerging managers, with this year’s allocation representing a significant increase in commitments made to the emerging manager program.

LACERS choose to maintain relationships with previous GPs, such as OceanSound Partners and Genstar Capital.

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