Los Angeles County Employees Retirement Association's board in closed session committed or invested $551 million to four alternative investment strategies, according to a report by the $69.6 billion Pasadena, Calif-based pension plan.
LACERA committed $250 million to an open-end core infrastructure fund focusing on North America and C$200 million ($164 million) to an open-end infrastructure fund investing in Canada, both managed by Axium Infrastructure. The fund names were not provided.
LACERA also invested $100 million in AM Asia Strategies Fund, a relative value, multistrategy hedge fund focused on Asia managed by AM Squared.
LACERA' staff also committed up to £26 million ($37 million) in a co-investment alongside Silver Lake Partners, a private equity firm investing in technology companies. Further details were not provided.