Los Angeles City Employees commits to 2 private equity funds
By Arleen Jacobius | September 21, 2012 10:35 am
Los Angeles City Employees' Retirement System committed up to $20 million each in AION Feeder III and FIMI Opportunity V, according to a notification to the board of the $10.6 billion pension fund by its private equity consultant, Hamilton Lane.
AION Feeder III is a special situations limited partnership managed by AION India Investment Advisors, a joint venture between Apollo Global Management and ICICI Bank. LACERS has invested in several earlier Apollo funds.
FIMI Opportunity V is managed by First Israel Mezzanine Investors and targets small buyouts in Israel.