LACERS approves $35m commitment

The US public pension has backed a diversified value-add fund.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $18.56bn
Allocation to alternatives: 30.60%
Bitesize: $10-50m

Los Angeles City Employees’ Retirement System committed $35 million to NREP Nordic Strategies Fund IV. Capital raised by the value-add vehicle will be used to invest in real estate throughout Europe across diversified sectors including retail and multifamily properties.

The $18.56 billion US public pension has a 7 percent target allocation to real estate that currently stands at 4.60 percent.

As illustrated in the charts below, LACERS devotes 30.60 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for value-add funds that target the North America region.

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