The $54 billion Los Angeles County Employees Retirement Association (LACERA) made key allocations within its hedge fund and private equity portfolios totaling $550 million.
An investment of up to $400 million in the Polar Multi-Strategy Fund was approved at the March trustee meeting at the pension fund. Officials directed staffers to make an initial $300 million allocation with another $100 million being made available for follow-on investments.
The direct allocation comes as officials are winding down the fund of hedge fund program overseen by Grosvenor Capital Management and Goldman Sachs Asset Management. The . . .
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