LP profile · Pension fund
LACERA
LACERA is a pension fund headquartered in United States (North America). Ranked #46 in the 2026 Dealroom Power Law LP Ranking by realised power-law score across its venture commitments.
Historical Background
- The Los Angeles County Employees Retirement Association (LACERA) was established in 1937 as a pension trust fund to provide retirement and death benefits to employees of Los Angeles County.
- Since 1971, LACERA has also been responsible for administering the Retiree Healthcare Benefits Program.
Source of Capital
- LACERA's capital is primarily sourced from the pension funds of Los Angeles County employees.
- The organization also manages funds for outside districts, including the Little Lake Cemetery District, the Local Agency Formation Commission for the County of Los Angeles, the Los Angeles County Office of Education, and the South Coast Air Quality Management District.
Major Events
- No information available.
Allocation Strategy
- LACERA's investment portfolio is diversified across various asset classes, with a notable allocation to real assets and private equity.
- The fund has a target allocation of 7% for real estate and 4.5% for infrastructure, with plans to commit over $2.1 billion to real estate in 2025.
- LACERA is adjusting its strategy to increase downside protection in response to market conditions, shifting some capital from global equity and real estate to hedge funds and investment-grade bonds.
Sources
- https://www.lacera.com/who-we-are
- https://www.top1000funds.com/2024/04/lacera-adds-downside-protection-as-equity-markets-look-unsustainable/
- https://www.perenews.com/lacera-to-commit-over-2bn-to-real-estate-in-2025/
- https://www.infrastructureinvestor.com/lacera-reveals-new-commitment/
- https://en.wikipedia.org/wiki/Los_Angeles_County_Employees_Retirement_Association