LACERS approves four private credit managers

The US public pension has chosen two US managers and two non-US managers.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $17.69bn
Allocation to alternatives: 30.60%
Bitesize: $10-50m

Los Angeles City Employees’ Retirement System has awarded contracts to Benefit Street Partners and Monroe Capital for the US part of their Private Credit manager search and to Alcentra Limited and Crescent Capital Group for the non-US part of the search. The pension also committed $100 million each to Benefit Street Partners and Alcentra Limited and will commit capital to Monroe Capital and Crescent Capital Group at a future date.

As illustrated in the charts below, LACERS allocates 30.60 percent to alternative assets. Mr. Rodney June is the current Chief Investment Officer.

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