Los Angeles County Employees Retirement Association, Pasadena, committed up to $150 million to Bain Capital Real Estate Fund III, a value-added real estate fund, according to a closed session report.
The non-core private real estate fund would invest in long-term demand growth areas in opportunistic subsectors, the board for the $73.6 billion pension fund reported. LACERA has invested with Bain Capital in the past, including committing $100 million each to Bain Capital Real Estate Fund I and Bain Capital Real Estate Fund II.
