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FUNDRAISING NEWS | December 12, 2024
Tags: Pension Funds, Real Estate, Private Equity
The Los Angeles County Employees’ Retirement Association (LACERA) made investments totalling $257.5M in growth private equity and core real estate.
Per recently published minutes from its November 13 board meeting, the pension closed a $250M commitment to Summit Partners Growth Equity Fund XII and $7.5M add-on investment in Clarion Lion Properties Fund, in which it previously invested $600M in 2023. Most recently, the county pension made a co-investment allocation of $95M with Summit Partners, as reported by Dakota on October 14.
As of September 30, LACERA currently allocated 16% to private equity against a target weight of 17%, and 3.8% to core real estate against a 5.5% target. In total, the California-based pension oversees $81B in plan assets.
Written By: Dakota
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