TA Associates Wednesday said it wrapped up fundraising for its 14th flagship fund, TA XIV, at $12.5 billion, above the firm’s $10.5 billion target. It also raised $1.5 billion for TA Select Opportunities Fund II.
Los Angeles County Employees allocates $190 million
Los Angeles County Employees allocates $190 million
GHO Capital Fund III, according to a report of its closed session meeting.
The European health-care buyout fund is managed by GHO Capital.
The $67.9 billion, Pasadena, Calif.-based pension fund at its May 19 meeting also committed up to $66 million to a special purpose vehicle managed by private equity firm
GI Partners.
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LACERA picks PineBridge for $1 billion in high yield, slates $555 million for alts
Los Angeles County Employees Retirement Association, Pasadena, Calif., hired
PineBridge Investments to manage $1 billion in a high-yield separate account for the $66.4 billion pension fund, according to a closed session report from its April 14 meeting.
PineBridge was the only manager selected to manage the mandate following an RFP launched in July 2020, CIO Jonathan Grabel said in an email in response to questions. LACERA s target allocation to high yield is 3%, with a range of zero to 6%. LACERA had $2.2 billion in high yield as of Feb. 28.
LACERA also committed a total of up to $555 million to five alternative investment funds and three co-investments alongside approved alternative investment managers, the report said.
In 2018, the Los Angeles County Employees Retirement Association began asking prospective asset managers about diversity.
The questionnaire given to managers that responded to LACERA’s requests for proposals asks for details on who implements firm diversity policies, how many confidential settlements or non-disclosure agreements are related to workplace sexual harassment or discrimination, and whether firms conduct a pay disparity analysis.
LACERA is not the only asset allocator to make diversity and inclusion questions an explicit part of the request for proposal and search process. For instance, in current requests for proposals both the Illinois State Universities Retirement System and the Ohio Public Employees Retirement System included questions on diversity.