LACERA backs latest mining fund

The Pasadena-based public pension has committed $150m.

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Name: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $68.87 billion

According to a recent board meeting, the Los Angeles County Employees’ Retirement Association (LACERA) has committed $100 million to Sprott Private Resource Streaming & Royalty Annex and $50 million to Sprott Private Resource Streaming & Royalty Annex – Co-Investment.

Los Angeles County Employees’ Retirement Association (LACERA) is the largest county retirement system in the US with over 156,000 members. LACERA was established in 1938 and provides retirement, disability and death benefits to eligible Los Angeles County employees and their beneficiaries.

Sprott, founded in 1981, is a global asset management firm that provides clients with highly distinctive metals and real assets investing strategies. Sprott will oversee the fund, which will invest in sectors such as industrial and mining.
LACERA’s recent fund commitments have targeted North American and European vehicles focused on multiple sectors.

 

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