L
LP profile
LACERS
Pension fund · Founded 1937 · Los Angeles, United States
201
VC firms backed
$22B
AUM
~$440M
Allocated to VC (est. 2%)
01 · Background
Who LACERS is.
- Historical Background
- The Los Angeles City Employees' Retirement System (LACERS) was established in 1937 following a vote by the citizens of Los Angeles to create a retirement system for the city's civilian employees. Operations began on July 1, 1937, and the system has since been governed by a Board of Administration as mandated by the City Charter.
- Source of Capital
- LACERS is a public pension fund, with capital sourced from contributions made by its members—the civilian employees of the City of Los Angeles. The fund is also supported by contributions from the City of Los Angeles, which acts as the employer, and from investment earnings generated by the system's portfolio.
- Allocation Strategy
- LACERS allocates capital across a diversified range of asset classes, including public equity, fixed income, and real assets. The system also invests in private equity as a key component of its portfolio, aiming to generate long-term growth. According to its investment policy, LACERS has a target allocation of 16% for private equity, which includes venture capital, growth equity, and buyout strategies.
02 · Fund commitments
The funds LACERS backs.
LACERS is a limited partner in 201 funds. 25 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
New Enterprise Associates
#8 Power Law
Khosla Ventures
#12 Power Law
General Catalyst
#13 Power Law
Bessemer Venture Partners
#17 Power Law
Insight Partners
#23 Power Law
Spark Capital
#51 Power Law
Notable Capital
#61 Power Law
TCV
#67 Power Law
Menlo Ventures
#75 Power Law
IVP
#84 Power Law
Threshold Ventures
#115 Power Law
Mayfield
#134 Power Law
Alchemy Partners
Astorg
Baring Asset Management
Baring Private Equity Asia
BC Partners
Carlyle Cardinal Ireland - CCI
Charterhouse Capital Partners
Cinven
Coller Capital
Colony Yangtze (Shanghai) Investment Management Consulting Co.,Ltd
CVC Capital Partners
EQT Group
FIMI
Hellman & Friedman
Hg Capital
Hony Capital
ICICI Venture
MBK Partners
Navis Capital Partners
Orchid Asia Group Management
03 · Allocation
How LACERS’s fund book is spread.
The 201 funds LACERS backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters.
- North America 17286%
- Europe 2010%
- Rest of world 94%
United States 170 · United Kingdom 13 · China 3 · Canada 2
How established those managers are
Managers grouped by how many funds they have raised — across the 142 of 201 with a fund history on record.
Emerging funds · 55
Established funds · 87
24
1
17
2
14
3
13
4
23
5-6
21
7-9
13
10-14
17
15+
Funds raised by the manager
04 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to LACERS by combined power-law score — North America first, then the nearest worldwide.
🇺🇸
Orange County Employees' Retirement System
$23B AUM
96 VC funds backed
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Washington State Investment Board
$190B AUM
99 VC funds backed
🇺🇸
New York State Common Retirement Fund
$298B AUM
120 VC funds backed
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New Mexico State Investment Council
$35B AUM
135 VC funds backed
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Pennsylvania State Employees' Retirement System
$42B AUM
122 VC funds backed
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IMRF
$57B AUM
109 VC funds backed
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San Francisco Employees' Retirement System
$32B AUM
136 VC funds backed
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Texas County & District Retirement System (TCDRS)
$38B AUM
103 VC funds backed