Los Angeles County Employees Retirement Association, Pasadena, committed up to $75 million to Innovation Endeavors V, an early stage venture capital fund, according to a report of actions of the $73.7 billion pension fund board took in executive session.
The fund will invest across industries, including industrials, life sciences, health care delivery, vertical software, computing infrastructure and climate.
LACERA had $1.4 billion in its growth portfolio, which includes global equity, private equity and opportunistic real estate. The pension fund has a 45% target allocation to growth.
