Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $71.98 billion
Allocation to alternatives: 26.7%
Los Angeles County Employees’ Retirement Association has committed up to $250 million across two private debt vehicles, according to the pension’s September investment board meeting report.
The commitments comprised $150 million to Orion Mine Finance Fund III and $100 million to Orion Mineral Royalty Fund I. Both funds, which focus on mining opportunities, are managed by Orion Resource Partners
As illustrated below, LACERA’s recent commitments have been to funds focused on the corporate sector primarily in North America and Europe. The pension currently allocates 2.8 percent of its full investment portfolio to private debt.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.