Los Angeles County Employees Retirement Association, Pasadena, Calif., committed or invested up to $442 million to six managers, according to a report of closed session actions taken at the board's Jan. 13 meeting.
The $63.8 billion pension fund's board approved commitments of up to $100 million each to Grain Communications Opportunity Fund III, a telecommunications infrastructure fund managed by Grain Management, and Novacap TMT VI, a buyout fund that focuses on Canadian media, technology and telecommunications sectors.
LACERA's board also approved a commitment of up to $100 million total to LAV Fund VI and LAV Fund VI Opportunities, private equity funds that focus on investments in the biomedical industry in China and the United States, both managed by Lilly Asia Ventures.
Finally, the board approved a commitment of up to €75 million ($92 million) to Capman Nordic Fund III, a diversified real estate fund investing primarily in Denmark, Finland and Sweden.
The board also received notice that staff completed a $30 million co-investment in a registered investment advisory firm alongside Lightyear Capital and a $20 million co-investment in a health-care software and technology company alongside Leonard Green & Partners. Further information on the companies was not provided.