LA pension rolls into PE, credit opportunities
The $20 billion Los Angeles City Employees Retirement System (LACERS) announced the addition of two alternative investment managers to its portfolio with allocations totaling $80 million.
LACERS' Chief Investment Officer Rodney June notified trustees of a $30 million commitment to Stellex Capital Partners II and another $50 million allocation to Fortress Credit Opportunities Fund V Expansion.
Stellex Capital Partners’ private equity fund focuses on lower middle market businesses within the industrials, marine, transportation, consumer and materials sectors in North America and Europe. Consultant Aksia TorreyCove recommended the allocation in the new fund.
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