Los Angeles County Employees' Retirement Association, Pasadena, Calif., made about $450 million in private equity commitments, said David Kushner, CIO of the $42.5 billion pension fund.
LACERA committed up to e150 million ($201 million) to CVC Capital Partners VI, up to $150 million to Carlyle Partners VI and up to $100 million to Insignia Capital Partners.
This is LACERA's fifth investment in Carlyle Group funds; Carlyle Group is seeking to raise $10 billion in its sixth buyout fund, according to a memo to LACERA's board of investment. CVC Capital Partners VI is a European buyout fund. LACERA invested in CVC European Equity Partners V. Insignia Capital is a relatively new private equity firm that invests in lower to middle-market companies.