FUNDRAISING NEWS | September 18, 2024
The Los Angeles County Employees’ Retirement Association (LACERA) approved four commitments to European alternatives totaling $545M and made several manager changes, according to materials from its September 11 investment board meeting.
In private equity, LACERA allocated €135M ($147M) to Altor Climate Transition Fund I, an energy transition fund focused on industrial, consumer, and business segments primarily in Northern Europe, and €65M ($71M) to Altor ACT Feeder LP Co-Invest.
Within private infrastructure, LACERA committed €200M ($218M) to ARDIAN Infrastructure Fund VI, an infrastructure fund targeting energy, transport, and telecom investments primarily in Western Europe, and €100M ($109M) to ARDIAN Infra LA Co-Invest.
The LACERA board also approved the full redemption of contracts with both of its emerging market debt managers, Aberdeen Asset Management and Ashmore Group. It also approved a motion to terminate CornerCap Investment Counsel as global equity emerging manager. As reported by Dakota, EP Wealth Advisors on September 17 said it has acquired CornerCap.
Per Dakota data, LACERA oversees approximately $77B in assets.
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Helen Bascom is a Marketing Associate at Dakota.
