Searches and Hires

LACERA chooses Albourne for alts consulting, puts up to $250 million with 2 firms

Los Angeles County Employees Retirement Association hired Albourne as its new hedge fund, illiquid credit and real assets consultant, said CIO Jonathan Grabel.

Albourne's selection at the March 13 board meeting followed an RFP launched in August.

Separately, the $55.8 billion Pasadena, Calif., pension fund committed a total of up to $250 million to two alternative investment funds — up to $150 million is going to Advent International GPE IX, a global buyout and growth equity fund, and $100 million to LAV Biosciences Fund V, a venture capital fund managed by Lilly Asia Ventures.

Advent is a new manager to the fund; LACERA has invested with Lilly Asia in the past.