LACERA approves $100m commitment

The US public pension has backed an Asia-Pacific opportunity fund.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Los Angeles, United States
AUM: $54.84bn
Allocation to alternatives: 29.40%

The Los Angeles County Employees’ Retirement Association (LACERA) has agreed to commit $100 million to AG Asia Realty Fund IV, according to a contact at the pension. The opportunity fund, launched by Angelo Gordon, will invest in real estate throughout the Asia-Pacific region.

The $54.84 billion public pension system has a 11% target allocation to real estate that currently stands at 11.2%.

As illustrated in the charts below, LACERA has allocated capital to a diversified group of real estate funds. Its commitment to AG Asia Realty Fund IV is the first of 2019.

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