Los Angeles City Employees' Retirement System made additional commitments of up to $50 million to two real estate funds, according to reports of closed session board actions released Thursday.
In closed session at its April 27 meeting, LACERS board committed up to an additional $25 million to Kayne Anderson Core Real Estate, an open-ended core real estate fund managed by Kayne Anderson Capital Advisors. LACERS made its first commitment of $35 million to the fund in 2019.
Pension officials also committed up to an additional $25 million to Lion Industrial Trust, managed by Clarion Partners. LACERS made an initial $50 million commitment to Lion Industrial Trust in 2016.