LACERA to expand infra and natural resources exposure

The US pension fund is looking to hire a manager to explore private infrastructure and natural resources investments.

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Los Angeles County Employees Retirement Association (LACERA) is planning to issue an RFP in September and expect to hire a portfolio manager for its first infrastructure and natural resources investments by January or February 2019.

The new manager will initially focus on public assets and subsequently shift to private fund investments in infrastructure and natural resources to diversify its real asset exposure.

Currently, the pension fund is allocating 3 percent and 4 percent of its $56 billion assets to infrastructure and natural resources respectively.

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