Updated with correction.
Los Angeles County Employees' Retirement Association, Pasadena, Calif., committed $150 million to buyout fund ABRY Partners VIII, said David Kushner, chief investment officer for the $47 billion pension fund, in an e-mail.
LACERA is an investor in another ABRY Partners fund, ABRY Advanced Securities Fund.
LACERA's board, at its meeting Wednesday, also selected Goldman Sachs Asset Management to manage a custom hedge fund portfolio. The size of the portfolio and the source of the funding are yet to be determined, Mr. Kushner wrote.
Separately, LACERA launched an RFP for an executive search firm to help fill a vacant principal investment officer position. The principal investment officer would report to the CIO and be responsible for the overall management of LACERA's equities investments. June Kim, former principal investment officer for global equities, was named global equity director of the $184.8 billion California State Teachers' Retirement System, West Sacramento, in June.
LACERA's international equity allocation was 26% and its domestic equity allocation was 24% as of Sept. 30.
The RFP is on LACERA's website. Proposals are due Aug. 7, with a decision expected by Sept. 5. LACERA officials expect to have the new person in place by Nov. 17.
