The Los Angeles City Employees' Retirement System committed $10 million to TCW/Crescent Mezzanine Partners IV, said Dan Gallagher, CIO of the $10.2 billion system. Funding came from cash.
Separately, the system earned a 12% return on investments for the year as of Nov. 13, Mr. Gallagher said. Funded status improved to 83.1% as of June 30 from 79.3% the year before.
