LACERA approves $200m commitment

The US public pension has backed a fund managed by Partners Group.

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Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $72.71 billion
Allocation to alternatives: 27.5%

Los Angeles County Employees’ Retirement Association committed $200 million to Partners Group Direct Infrastructure 2020, according to the pension’s December 2021 investment board meeting report.

According to the board document, the fund managed by Partners Group focuses on renewable power, energy infrastructure, communication, transportation, social infrastructure and water management primarily in North America and Europe.

As illustrated below, LACERA’s recent infrastructure commitments have been to funds focused primarily on investments in North America and Europe. The pension currently allocates 3.2 percent of its investment portfolio to infrastructure.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments