LACERS approves $35m commitment

The US public pension has backed a North America-focused value-add fund.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $18.30bn
Allocation to alternatives: 30.60%
Bitesize: $10-50m

Los Angeles City Employees’ Retirement System committed $35 million to LBA Logistics Value Fund VII. The value-add fund will use committed capital to invest in industrial and office real estate throughout North America.

The $18.30 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 North America-focused value-add funds.

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