The Los Angeles City Employees’ Retirement System has committed up to $175 million to five private equity funds, according to the May 23 board meeting.
Up to $50 million was committed to two venture capital funds managed by GGV Capital. Up to $40 million was committed to GGV Capital IX, and up to $10 million was committed to GGV Capital IX Plus.
In addition, up to $25 million was committed to the buyout fund, Barings Emerging Generation Fund II, managed by Barings. Up to $40 million was committed to the buyout fund, Hellman & Friedman XI, managed by Hellman & Friedman. Lastly, up to $60 million was committed to the growth equity fund, TA XV-A, managed by TA Associates.
As of March 31, 2023 the retirement system was valued at approximately $21.2 billion.
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