LACERA doles out $4bn, including $400m to PE

Last week the Board of Investments of the $74 billion Los Angeles County Employees Retirement Association (LACERA) approved manager hires for commitments totaling up to $4.1 billion, with $400 million of that figure awarded to private equity managers, a fund official confirmed. LACERA’s General investment consultant Meketa Investment Group assisted with the allocations.

The board approved the engagement of BlackRock to manage an approximately $3.7 billion long-term U.S. Treasury bond index portfolio in a separate account within the Risk Reduction and Mitigation category of LACERA’s portfolio. 

At its . . .

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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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