LACERA Commits $385M to Private Equity

The Los Angeles County Employees Retirement Association has recently made up to $385 million commitments to private equity according to the January 10 board meeting minutes.

$250 million was committed to Centerbridge Capital Partners Fund V. This is a private equity fund that will focus on value-oriented private equity transactions in North America and Europe, with an industry focus in financials, health care, industrials, and technology.

$115 million was also committed to Wynnchurch Capital Partners VI. This is a private equity fund that will focus on a value-based, middle market buyout strategy focused on equity and debt investments primarily in the United States and Canada, with an industry focus including industrials, consumer discretionary, and materials. 

The $72 billion pension targets 17% of their portfolio to private equity. The private equity portfolio consists of 296 funds investing primarily in buyout funds, with some exposure to venture capital, special situations, fund of funds, and co-investments.

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