Los Angeles County Employees Retirement Association, Pasadena, committed up to $100 million to Vista Equity Partners Fund IV LP and up to $75 million to Summit Partners Growth Equity Fund VII LP, said Christopher J. Wagner, senior investment officer, private equity for the $39.2 billion pension fund.
The Vista fund, a middle-market buyout fund focused on software and other technology companies, has a $2.5 billion fundraising target. Vista will commit at least $100 million through a combination of management fee offsets and cash.
The Summit Partners fund invests in venture capital.
