LACERA recommends $50m commitment

The $55.8bn US public pension backs an Asia-focused fund.

The Los Angeles County Employees’ Retirement Association (LACERA) committed up to $50 million to Heitman Asia-Pacific Property Investors, pending final approval at today’s board meeting.

The $55.8 billion US public pension has an 11% target allocation to private real estate that currently stands at 11.8%.

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