Los Angeles County Employees Retirement Association, Pasadena, Calif....

Los Angeles County Employees Retirement Association, Pasadena, Calif., allocated $25 million to the $1.75 billion DLJ Merchant Banking Partners II buy-out fund. DLJ and its employees are committing $600 million to the fund; limited partners are committing $1.15 billion. The $19.7 billion LACERA fund has 3% of its assets committed to alternative investments