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LACERA approves €75m commitment

The US public pension has backed a value-added real estate vehicle.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $63.85 billion
Allocation to alternatives: 25.6%

Los Angeles County Employees’ Retirement Association has approved a €75 million commitment to CapMan Nordic Real Estate III, according to the pension’s January 2021 investment board meeting report.

As illustrated below, LACERA’s recent real estate commitments have been to funds focused primarily on investments in North America and Western Europe. The pension has an 11 percent target allocation to private real estate that currently stands at 8 percent.

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