Los Angeles County Employees Retirement Association, Pasadena, Calif., committed up to €150 million ($158 million) to DIF Core-Plus Infrastructure Fund III, a real assets fund, according to a report of executive session board actions.
DIF Capital Partners' latest fund will focus primarily on digital, energy transition, transportation and social infrastructure investments in Europe and North America.
The $75.2 billion pension fund also made a secondary private equity market purchase of $125 million in a special purpose vehicle managed by Accel-KKR. LACERA has invested with Accel-KKR in the past including committing up to $100 million to Accel-KKR Growth Capital Partners IV, a mezzanine debt fund, in January; and up to $150 million to Accel-KKR Capital Partners VI, a global buyout fund, in 2019.
