Los Angeles County Employees Retirement Association, Pasadena, Calif., reported $2.1 billion in commitments and investments in a report out of executive session at its Dec. 11 board meeting.
The $82.2 billion pension fund committed $775 million to Centerbrige Partners and $500 million to Siguler Guff & Co., both credit strategies that will be overseen by LACERA's dedicated managed account platform manager, Innocap; invested $600 million in Mariner Atlantic Multi-Strategy Fund, a multistrategy hedge fund managed by Mariner Investment Group; committed $150 million to buyout fund Thoma Bravo Fund XVI and $50 million to early stage venture capital fund Jungle Ventures V; and invested $25 million in IDR Core Property Index Trust, an open-end core commingled real estate fund managed by IDR Investment Management.
As of Nov. 30, LACERA’s actual allocations to growth, real assets/inflation hedging and credit were 50%, 14.2% and 10.3%, respectively; their respective interim targets are 50.5%, 16% and 12%.
