Missouri Local Government Employees Retirement System, Jefferson City, committed $65 million to Brentwood Associates Private Equity VII, a buyout fund; and made a commitment of $65 million to L Catterton Latin America IV, another buyout fund, according to a news release Friday.
LAGERS previously committed $40 million to Brentwood Associates Private Equity VI in 2017 and $40 million to L Catterton Latin America III in 2019.
Separately, the pension fund posted a net return of -3.7% for the one-year period ended Dec. 31, outperforming its policy benchmark, which returned a net -5.5%, according to the release.
For the three-, five- and 10-year periods ended Dec. 31, the $10 billion pension fund returned an annualized net 8%, 7.9% and 8.7%, respectively, above their respective benchmarks of 5.4%, 6.2% and 6.7%.
As of Dec. 31, the pension fund had an asset allocation of 35% each real assets and equities; 33% fixed income; 12% alpha; 9% strategic; and -24% in net of cash leverage, according to an email from Megan Loehner, deputy chief investment officer.
For the year ended Dec. 31, the best-performing asset classes were strategic (28.8%), alpha (9.1%), real assets (5.7%) and net of cash leverage (0.7%). The worst performers were fixed income (-16%) and equity (-9.4%).
