LACERA allocates up to $442 million with 6 managers
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Los Angeles County Employees Retirement Association, Pasadena, Calif., committed or invested up to $442 million to six managers, according to a report of closed session actions taken at the board's Jan. 13 meeting.
The $63.8 billion pension fund's board approved commitments of up to $100 million each to Grain Communications Opportunity Fund III, a telecommunications infrastructure fund managed by
Grain Management, and
Novacap TMT VI, a buyout fund that focuses on Canadian media, technology and telecommunications sectors.
LACERA's board also approved a commitment of up to $100 million total to LAV Fund VI and LAV Fund VI Opportunities, private equity funds that focus on investments in the biomedical industry in China and the United States, both managed by