LACERS awards contracts to four institutions

The US public pension has advanced its Private Credit Mandate search.

Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $17.07bn
Allocation to alternatives: 30.60%
Bitesize: $10-50m

Los Angeles City Employees’ Retirement System awarded contracts to Alcentra Limited, Benefit Street Partners, Crescent Capital Group and Monroe Capital as part of its Private Credit Mandate search. The pension agreed to fund Benefit Street Partners and Alcentra Limited with $100 million each, while Crescent Capital Group and Monroe Capital will be funded by the pension at a later date.

The $17.07 billion US public pension has a 12.30 percent target allocation to private debt that currently stands at 5.80 percent.

As illustrated in the charts below, LACERS devotes 30.60 percent of its full investment portfolio to alternative assets. Mr. Rodney June is the current Chief Investment Officer.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.