The Board of Investments of the USD74 billion Los Angeles County Employees Retirement Association (LACERA) has allocated USD400 million out of a total investment pot of USD4.1 billion to private equity managers.
That’s according to a report by AlternativesWatch which credits ‘a fund official’ for the information.
LACERA was assisted by Meketa Investment Group, its general investment consultant on the allocations.
The board approved the engagement of BlackRock to manage an approximately USD3.7 billion long-term U.S. Treasury bond index portfolio in a separate account within the Risk Reduction and Mitigation category of LACERA’s portfolio.
The new private equity allocations include up to USD100 million to Veritas Capital Fund VIII, up to USD150 million to Green Equity Investors IX, and up to USD50 million to Jade Equity Investors II, as wel as a renewal commitment of up to USD100 million to AE Industrial Partners III.
