FUNDRAISING NEWS | May 14, 2024
The Los Angeles City Employees’ Retirement System reviewed their 2024 Real Estate pacing plan according to materials from the May 14th Investment Committee meeting.
In core real estate, they are targeting a total $200 million in new commitments between 2-3 allocations. They plan to commit this capital to new and existing core/core-plus funds. Additionally, they discussed rebalancing the core portfolio and evaluating the core open-end position to focus on boosting returns.
Within the non-core real estate, they are targeting a total of $250 million in new allocations between 5-6 investments ranging from $50 - $75 million in size. They are also considering smaller commitments amounts for highly concentrated funds, niche strategies, or small fundraisers, per LACERS sizing policies.
Real Estate consultant Townsend assisted.
As of December 31, 2023, LACERS allocated approximately 5.4% to real estate with a target allocation of 7%.
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Helen Bascom is a Marketing Associate at Dakota.
