Los Angeles County Employees Retirement Association, Pasadena, Calif., reported committing a total of up to $765 million to alternative investment funds, co-investments and a secondary market purchase, according to a report of closed session actions.
The board of the $71.3 billion pension fund at its April 12 meeting committed up to $600 million to Macquarie Global Infrastructure Fund SCSP, an open-end global core infrastructure fund with a focus on energy/renewables, utilities, telecom and transportation predominantly in North America, Europe and the Asia-Pacific region.
LACERA also made a secondary purchase commitment of up to €70.0 million, or $69 million at the time of commitment, to a special purpose vehicle managed by Rivean Capital B.V., formerly known as Gilde Buyout, a LACERA Board of Investments approved private equity manager.
The board approved a $50 million co-investment commitment alongside DIF Capital Partners' DIF Core-Plus Infrastructure Fund III and DIF Infrastructure VI and a $46 million co-investment commitment alongside Partners Group's, Partners Group Direct Infrastructure 2020.
