LACERA approves $100 million commitment

The US public pension has backed Bain Capital's debut real estate fund.

Institution: Los Angeles County Employees’ Retirement
Headquarters: Pasadena, United States
AUM: $54.84bn
Allocation to alternatives: 29.4%
Bitesize: $50-100m

Los Angeles County Employees’ Retirement (LACERA) has agreed to commit $100 million into Bain Capital Real Estate Fund I, according to a contact at the pension.

The $54.84 billion US public pension has a 11 percent target allocation to real estate that currently stands at 11.20 percent.

As illustrated in the charts below, LACERA’s private real estate investments tend to focus on vehicles with value-add or opportunistic strategies in Asia-pacific, North America and Western Europe.

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