LACERA Commits up to $911M to Real Estate, Private Equity

The Los Angeles County Employees’ Retirement Association has disclosed four new investments totaling up to $911 million in February 2023.

Up to $600 million was allocated to the Real Estate fund, CBRE U.S. Core Partners Fund, managed by CBRE Investment Management.

In private equity, up to $161 million was committed between two buyout funds managed by Montefiore Investment. Approximately $107 million was committed to Montefiore Investment VI S.L.P. and approximately $54 million was allocated to Montefiore Investment Expansion S.L.P.. In addition, up to $150 million was committed to the buyout fund, Alpine Investors IX.

As of December 31, 2022, the $73 billion pension fund allocates 6.2% to real estate and 18.1% to private equity. The target allocations for real estate and private equity are 6% and 17% respectively.

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