Los Angeles County Employees Retirement Association, Pasadena, Calif., committed or invested $950 million in five funds, according to a report on the $54.5 billion pension fund's website
LACERA's board invested $400 million in Magnetar Financial, an illiquid credit hedge fund managed by Magnetar Capital; and $300 million in Hudson Bay Fund, a relative value multistrategy hedge fund managed by Hudson Bay Capital Management.
LACERA also committed up to $100 million in Thoma Bravo Fund XIV and $50 million to Thoma Bravo Discover Fund III. Both buyout funds focus primarily on U.S. enterprise software technology companies.
Separately, pension officials committed $100 million in Canaan XII, a U.S. early stage venture capital fund managed by Canaan Partners that will investing in sectors including biotechnology, consumer, digital health and medical technology, financial technology, and frontier technology. LACERA has invested with Canaan Partners in the past, including Canaan Fund VII and Canaan Fund XI.