LACERA to reignite interest in distressed and special situations managers

The US public pension to allocate funds to distressed and special situations strategies.

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Institution: Los Angeles County Employees Retirement Association
Headquarters: Pasadena, United States
AUM: $58.82bn
Allocation to alternatives: 29.20%
Bitesize: $100-200m

Los Angeles County Employees’ Retirement Association intends to make fund commitments to distressed, special situations and value-oriented managers in wake of the current economic climate, as discussed in March 2020 meeting agenda. The pension would be seeking managers with a successful track record of navigating past dislocations.

The $58.82 billion US public pension has a current allocation of 29.20 percent to alternative investments, of which 1.50 percent is allotted to private debt. The pension fund also invests in assets classes such as infrastructure and private real estate.

As illustrated below, LACERA has historically committed to funds employing distressed debt strategy in the corporate sector.

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