Name: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $68.87 billion
Los Angeles County Employees’ Retirement Association (LACERA) has committed $75 million to Clearlake Opportunities Partners III – Co-Investment, according to a recent board material.
LACERA is the largest county retirement system in the US with more than 156,000 members. Established in 1938, it provides retirement, disability and death benefits to eligible Los Angeles County employees and their beneficiaries.
Clearlake Opportunities Partners III, managed by Clearlake Capital Group, will invest in the consumer goods, industrial and TMT sectors across North America.
LACERA has an 11.5% allocation to private debt, comprising $7.92 billion in capital. Its recent private debt commitment strategy has been focused on North America with distressed and royalties vehicles, which invest under a variety of sectors.
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