Los Angeles City Employees' Retirement System committed up to $20 million in ACON Equity Partners III LP, a small-company buyout fund managed by ACON Investments, according to a memorandum for the June 9 meeting of the $12 billion pension fund's board.
Acon Equity Partners III has a $600 million fundraising target. LACERS invested in a prior ACON fund, ACON-Bastion Partners II. The fund's private equity consultant, Hamilton Lane Advisors, made the commitment with staff's consent under its discretionary mandate.
