Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $22.42 billion
Allocation to real estate: 3.90%
Los Angeles City Employees’ Retirement System committed $50 million to Brookfield Strategic Real Estate Partners IV, according to the pension’s August 2021 board meeting agenda. Capital raised by the vehicle will be used to make opportunistic investments in properties around the globe across diversified sectors.
The $22.42 billion public pension has a 7 percent target allocation to private real estate that currently stands at 3.9 percent.
As illustrated in the charts below, LACERS devotes 26.64 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for real estate funds that invest in properties throughout North America.
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