LACERA commits $2.2bn to private markets, diversifying $77bn portfolio 

The Los Angeles County Employees’ Retirement Association (LACERA) approved $2.2B in total commitments across seven funds in private equity, private credit, fixed income, and real estate. Recently published materials related to its December 11 meeting disclosed that LACERA made private credit investments of $500M in Siguler Guff & Company and $775M in Centerbridge Partners, to be executed as “dedicated managed accounts” by the pension’s DMA platform manager Innocap. LACERA also committed $600M to global fixed income fund Mariner Atlantic Multi-Strategy and $25M to real estate vehicle IDR Core Property Index Trust. In private equity, the Los Angeles pension allocated $50M to Jungle Ventures V, $150M to Thoma Bravo XVI, and $100M to Thoma Bravo Discover V.  Per the latest Dakota data, LACERA oversees total plan assets of approximately $77B.