LACERS Targeting $600M to Private Credit in 2024

The Los Angeles City Employees’ Retirement System has reviewed their private credit strategic plan for 2024, according to materials from the February 13th Board meeting. 

A presentation from their investment consultant, Aksia, recommends $500 million to $700 million in commitments to private credit for 2024, with an expected target of $600 million.

In addition they are targeting $50 million to $150 million allocation sizes to 5-6 active GPs, with an expected net return between 8-10%.

LACERS is looking for commingled and evergreen fund structures that are focused on direct lending. They plan to look into the advantages of first close discounts and aggregation discounts, as well as source emerging managers. 

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Written By: Helen Bascom, Marketing Associate

Helen Bascom is a Marketing Associate at Dakota.


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