Los Angeles City Employees commits to 2 private equity funds

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.