LACERS commits $40m to Cerberus Capital Management fund

The institution has an appetite for corporate debt funds in North America.

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Institution: Los Angeles City Employees’ Retirement System
Headquarters: Los Angeles, United States
AUM: $17.68 billion
Allocation to alternatives: 21.41%

Los Angeles City Employees’ Retirement System has committed $40 million to Cerberus Institutional Real Estate Partners V, a diversified distressed debt real estate fund that invests in Western Europe and North America, according to a September 2020 meeting agenda.

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