Los Angeles City Employees' Retirement System is entitled to recover $31,172 from private equity firm KKR's $29 million settlement with the Securities and Exchange Commission over allegations of improper allocation of broken deal expenses, minutes from the $14.6 billion pension fund board's Aug. 11 meeting show.
Some 62% of the $31,172 will be paid to LACERS from the KKR 2006 Fund and 38% will come from the KKR European Fund II. The recovery amount includes LACERS' share of the expenses and accrued interest. LACERS has not invested with KKR since the KRR 2006 Fund.
