Los Angeles County Employees Retirement Association, Pasadena, Calif., disclosed two new commitments totaling up to $200 million and made a close to $500 million purchase in two TIAA-CREF agriculture funds on the secondary markets, the $71.2 billion pension plan reported.
LACERA committed up to $100 million each to Great Hill Equity Partners VIII, a North American growth equity fund focused on sectors including consumer, communication services, healthcare and technology managed by Great Hill Partners, and TSG9, a middle-market buyout fund managed by TSG Consumer Partners.
Separately, the pension plan made a $191 million secondary purchase in TIAA-CREF Global Agriculture LLC, and a $265 million secondary purchase in TIAA-CREF Global Agriculture LLC II. The investments are in funds focusing on farmland properties in the U.S. as well as worldwide.
