LACERS approves $50m commitment

The Los Angeles-based public pension has backed LBA Realty's latest value-added real estate vehicle.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
Total AUM: $23.31 billion
Allocation to alternatives: 25.99%

Los Angeles City Employees’ Retirement System has approved a $50 million commitment to LBA Logistics Value Fund IX, according to the pension’s November 2021 board meeting document.

Managed by the Irvine-based LBA Realty, LBA Logistics Value Fund IX is the latest real estate fund in market, with a target size of $1.95 billion. The fund, which entered the market in September 2021, will target real estate investment opportunities in the North America region with a value-added strategy.

As illustrated below, LACERS allocates 25.99 percent of its full investment portfolio to alternative investments.

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