Los Angeles City Employees' Retirement System's board, in a special...

Los Angeles City Employees' Retirement System's board, in a special meeting today, decided to invest $5 million in the $145 million Essex Woodlands Health Ventures Fund IV. The money for Essex - a venture capital fund focusing on investments in the broadly defined health-care industry - is coming from cash, said Dan Gallagher, CIO for the $6.6 billion system. The system's alternative investment consultant is Pathway Capital.