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Alternative Assets  + Real Estate  |  July 16, 2024
LACERA Eyes Renewable Fund
Joe Palmisano
By: Joe Palmisano

LACERA Eyes Renewable Fund

The Los Angeles County Employees Retirement Association (LACERA) committed to a renewable energy fund and a co-investment opportunity in June.

The $77 billion retirement fund made a two-pronged allocation to the real assets portfolio, which includes investments in core and non-core real estate, infrastructure, natural resources and commodities, and Treasury Inflation Protected Securities (TIPS). To date, the $12 billion program has focused primarily on real estate and infrastructure strategies.

A €200 million ($214 million) commitment has been accepted for HitecVision New Energy Fund 2, which invests in decarbonization/energy transition. Renewable power, sustainable fuels, and circular and efficient energy systems are among the target areas, with a focus on the Nordic region.

A second investment of €50 million ($54 million) was made in L/HV Opportunities, a co-investment offering with a similar approach to the main fund.

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LACERA

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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