LACERS Commits $190M to Private Equity

Los Angeles City Employees’ Retirement System has allocated $190 million across four private equity funds, according to meeting materials from their November 22 board meeting.

$75 million was committed to buyout fund, Platinum Equity Capital Partners VI. LACERS has previously committed to a total of $112.5 million between funds III, IV, V, and Platinum Equity Small Cap Fund.

$20 million was committed to Auldbrass Partners Secondary Opportunity Fund III. Auldbrass is a new relationship for LACERS.

$75 million was committed to buyout fund, The Eighth Cinven Fund. Cinven is a new relationship for LACERS.

Lastly, $75 million was committed to growth equity fund Sunstone Partners III-Main. LACERS has previously committed $7.5 million to Sunstone Partners I and $10 million to Fund II.

Private equity consultant for the Retirement System, Aksia, assisted with the investments.

As of September 30, 2022, LACERS has an actual and target allocation to private equity of 18.91% and 16% respectively.

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