Los Angeles County bets big on credit, infrastructure

At its meeting last week, the board of investments of the Los Angeles County Employees Retirement Association (LACERA) reviewed sizable commitments to the illiquid credit and infrastructure investment classes. 

Staff also advanced to the board a real estate investment structure review that calls for changes to its real estate portfolio, an investment official at the fund confirmed.  

The board of the $74 billion public retirement fund approved a $775 million illiquid credit investment to be managed by Silver Rock Financial LP. in a dedicated managed account that includes a $600 million primary portfolio . . .

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Mark Fortune

Mark Fortune has more than 30 years of experience as a financial writer and editor, with a focus on institutional investment management. He has worked in various editorial roles at organizations that include Institutional Investor, Pageant Media, Markets Group and, most recently, at New York investment management firm Cohen & Steers.

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