LACERA approves €150m commitment

The US public pension has backed an infrastructure fund.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $61.57 billion
Allocation to alternatives: 28.5%

Los Angeles County Employees’ Retirement Association has approved a €150 million commitment to DIF Infrastructure VI, according to the institution’s October 2020 investment board meeting report.

The fund, managed by DIF Capital Partners, employs a core global infrastructure strategy targeting assets in transportation, utilities and renewables sectors in developed markets.

As illustrated below, LACERA’s recent infrastructure commitments have been to funds focused primarily on the energy sector across multiple regions. The pension has a 3 percent target allocation to infrastructure that currently stands at 2.8 percent.

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