Monday, 28 July 2014
Last updated 2 days ago
Aug 14 2012 | 12:22pm ET
The Los Angeles County Employees Retirement Association will increase its alternative investments allocation by more than half.
The $38.6 billion pension has boosted its private equity allocation to 11% from 7% and its hedge fund allocation by threefold, from 1% to 3%, Pensions & Investments reports. The new alternatives money comes from cuts to LACERA's global equity and fixed-income portfolios.
The new private equity target merely reflects the reality of LACERA's portfolio, which already has 10.3% of its assets invested in the space. But it could prove a billion-dollar boon for hedge funds: LACERA currently has only 0.7% of its money in the asset class.
In addition, LACERA awarded mandates to private equity fund Lightyear Capital and real-estate fund Europa Capital. The former got up to $105 million and the latter €50 million.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…