LACERA approves $100m commitment to AG Asia Realty Fund IV

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.

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