In its August meeting, the $52.8 billion Los Angeles County Employees’ Retirement Association (LACERA) trustees discovered that alternative investment portfolios are still being actively built as consultants such as Albourne deal with new due diligence realities.
LACERA selected hedge fund firm Magnetar Financial to help round out growing $1.1 billion illiquid credit portfolio, which recently added Napier Park to manage $500 million in a portfolio of illiquid credit assets in a single-investor separate account structure. Magnetar was selected in May, but the $400 million allocation is being put to work this month.
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