Los Angeles City Employees' Retirement System committed up to $248 million to seven alternative investment funds, according to reports to the board ahead of its meeting Tuesday.
The $22.2 billion pension committed up to $57.5 million to Genstar Capital Partners X, a middle-market buyout fund managed. It also committed up to €40.8 million ($49.5 million) in H.I.G. Europe Middle Market LBO fund, a middle-market buyout fund managed by H.I.G. Capital.
LACERS also dislosed commitments of up to $40 million each to NMS Fund IV, a buyout fund managed by New MainStream Capital; Roark Capital Partners VI, a buyout fund managed by Roark Capital Group; and Oak HC/FT Partners IV, a late-stage venture capital fund investing in health care and financial technology.
Further, LACERS committed up to $11 million to Mill Point Capital Partners II, a North American lower middle-market buyout fund, and $10 million to Ulu Ventures Fund III, an early stage venture capital fund.