Los Angeles City Employees' Retirement System committed up to $25 million to Coller International Partners VI, a private equity secondary market fund managed by Coller Capital, and up to $30 million to buyout fund Advent International GPE VII-B, according to recent notices to the board from Rodney June, chief investment officer of the $10.5 billion pension fund.
The Coller fund closed last month at $5.5 billion.
This is LACERS' first investment with Coller Capital, according to the notice for the board's July 24 meeting.
Advent International GPE VII-B is projected to be €8 billion ($9.8 billion). LACERS committed $20 million to Advent International GPE VI-A, a 2008 fund.