FUNDRAISING NEWS | October 22, 2024
Tags: Pension Funds, Private Credit, Fixed Income
The Los Angeles City Employees’ Retirement System (LACERS) has committed a total of $200M to direct lending funds, as detailed in materials from its October 22 board meeting.
The commitments include $100M to AG Direct Lending Fund V and another $100M to HPS Specialty Loan Fund VI-L, both in the private credit space. Aksia assisted with the recommendations, which align with the pension’s 2024 strategic plan for the private credit program, adopted by the board on February 27.
The HPS investment marks the beginning of a new general partner relationship for LACERS, while TPG is an existing partner. LACERS has previously committed to seven private equity funds and one real estate fund managed by TPG, though this will be its first private credit commitment with the firm, according to Dakota data.
Per Dakota data, LACERS oversees $23.1B in assets. As of July 31, the system allocated approximately 8.74% to credit against a target of 12.75%.
For more public pension insights and a comprehensive library of public plan minutes, book a demo of Dakota Marketplace!
Written By: Dakota
Dakota is a group of extraordinary people who try and do extraordinary things every day while playing at the highest level of professionalism in their domain.
October 18, 2024
September 23, 2024
925 West Lancaster Ave
Suite 220
Bryn Mawr, PA 19010
Tel: (610) 642-1481
© Dakota 2024 | Terms of Service | Privacy Policy | California Privacy Policy