LACERS approves $50m commitment

The Los Angeles-based public pension has backed TPG's latest infrastructure vehicle.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
Total AUM: $23.31 billion
Allocation to alternatives: 25.99%

Los Angeles City Employees’ Retirement System has approved a $50 million commitment to TPG Rise Climate Fund, according to the pension’s November 2021 board meeting document.

Managed by the Fort Worth-based TPG, TPG Rise Climate Fund is the latest infrastructure fund in market, with a target size of $5 billion. The fund, which entered the market in June 2021, will target infrastructure investment opportunities in the North America region in the energy, transport and social infrastructure sectors.

As illustrated below, LACERS allocates 25.99 percent of its full investment portfolio to alternative investments.

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