LACERA commits $2.2bn to private markets, diversifying $77bn portfolio

The Los Angeles County Employees’ Retirement Association approved $2.2bn in commitments across private equity, private credit, fixed income, and real estate, underscoring its strategic push into private markets. 

These allocations are part of the pension fund’s efforts to diversify its $77bn portfolio and capture long-term growth opportunities.

Private equity allocations totaled $300m. LACERA committed $50m to Jungle Ventures V, focusing on early-stage investments in high-growth companies. It also allocated $150m to Thoma Bravo XVI and $100m to Thoma Bravo Discover V, both funds concentrating on technology-driven investments.

In private credit, LACERA allocated $500m to Siguler Guff & Company and $775m to Centerbridge Partners. Both investments will be executed as managed accounts under Innocap’s oversight, leveraging the pension’s Dedicated Managed Account platform.

In fixed income, the pension committed $600m to Mariner Atlantic Multi-Strategy, a global fund designed to deliver stable returns across market cycles. Real estate investments included $25m allocated to IDR Core Property Index Trust, targeting high-quality property assets.

These commitments highlight LACERA’s balanced approach to leveraging private market opportunities while enhancing the diversification and resilience of its portfolio. With strategic allocations across sectors, the pension fund remains positioned to deliver strong, sustainable returns for its beneficiaries.

Source: Dakota

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