L
$22B
assets under management2% to venture · ~$440M
201 funds backed
Funds backed
201
Power Law funds backed
25
Direct holdings
0
Power Law
#65LP Ranking · #32 of 121 pension funds
Background
Who LACERS is.
Where the institution came from, whose capital it manages, and how that capital is allocated — from Dealroom's LP research.
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.
Fund commitments
The funds LACERS backs.
LACERS is a limited partner in 201 funds. 25 of them place in the Power Law Investor Ranking, and the best-ranked are shown here.
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
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. 55 emerging (three funds or fewer), 87 established — across the 142 of 201 with a fund history on record.
24
1
17
2
14
3
13
4
23
5-6
21
7-9
13
10-14
17
15+
Funds raised by the manager
Emerging · up to 3 funds
Established · 4 or more
How LACERS stacks up
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.
🇺🇸
Pennsylvania State Employees' Retirement System
$42B AUM
75 VC funds backed
🇺🇸
Mayo Pension Plan
$12B AUM
45 VC funds backed
🏳️
UPHS Illiquid Assets Pool
15 VC funds backed
🇺🇸
IMRF
$57B AUM
70 VC funds backed
🇺🇸
The Boeing Company Employee Retirement Plans Master Trust
$68B AUM
31 VC funds backed
🇺🇸
San Francisco Employees' Retirement System
$32B AUM
90 VC funds backed
🇺🇸
Agilent Technologies Deferred Profit-Sharing Plan
$141M AUM
20 VC funds backed
🇺🇸
Agilent Technologies Retirement Plan
$1.8B AUM
20 VC funds backed
Figures on this page are sourced live from the Dealroom next-gen API, joined with Dealroom’s cap-table dataset (estimated holdings) and the Power Law Investor Ranking. News in “Featured in” is drawn from Dealroom’s own coverage — the stories that name this investor, not only those it is the subject of. Market sentiment is omitted until the API exposes it.