Updated with correction March 14, 2012
Los Angeles City Employees' Retirement System committed up to $25 million in Hony Capital Fund V, a China-focused private equity firm, according to a memo to the board of the $9.8 billion retirement system.
It's the first commitment by LACERS to a Hony Capital fund.
Separately, LACERS is making additional commitments of up to $10 million each to Blackstone Energy Partners and Avenue Europe Special Situations Fund II. The retirement system now has up to $25 million committed to the Blackstone fund and up to $30 million to the Avenue fund.