Los Angeles City Employees Retirement System raised its targets for new private equity commitments in 2006 to $300 million from $180 million last year, according to an official who declined to be identified.
The $9.4 billion system last month changed its private equity target to 8% of assets, based on investments rather than commitments, from 7% funded and committed. It also changed the real estate target to 7%, based on investments, from 7% funded and committed. The change will put more plan assets into the two asset classes.
Separately, the board committed $25 million to Walton Street Real Estate Fund V and $8 million to DFJ Element, a clean technology fund.