Los Angeles County Employees Retirement Association, Pasadena, Calif., committed $100 million to Blue Sage Capital IV.
The $82.2 billion pension fund disclosed the commitment to the lower-middle-market buyout fund in an executive session report out of its Feb. 12 board of investment meeting.
There is no record of prior LACERA commitments to Blue Sage Capital. According to the manager’s website, its fourth fund continues the firm’s emphasis on “investment partnerships with environmental solutions, niche manufacturing, and specialty services companies in North America, particularly in Texas, the Southwest, and the Midwest.”
The commitment falls within LACERA’s growth portfolio, which had an actual allocation of 50% as of Nov. 30. Its interim target is 50.5%.
