LACERA Earmarks $545M to Real Estate, Private Equity

The Los Angeles County Employees’ Retirement Association (LACERA) allocated $545 million to its private equity and real estate programs.

In real estate, AG Europe Realty Fund IV received a $118 million investment in December. The Angelo Gordon fund will buy underperforming and distressed real estate properties. The primary focus is on Western Europe’s largest and most liquid markets.

In private equity, a $250 million investment was made to Centerbridge Capital Partners Fund V, a private equity fund that specializes in value-oriented transactions in North America and Europe. Centerbridge Partners’ latest offering focuses on financials, healthcare, industrials, and technology.

Wynnchurch Capital VI, managed by Wynnchurch Capital, received a $115 million investment. The private equity fund specializes in value-based middle market buyouts and invests in equity and debt predominantly in the U.S. and Canada. The focus is on industrials, consumer discretionary, and materials.

The investments strengthen the $76 billion pension’s growing private markets portfolio, which accounts for 44% of total assets, or around $33 billion.