L.A. Pension Doubles Down On Grosvenor

Dec 14 2012 | 10:44am ET

The Los Angeles County Employees' Retirement Association has nearly doubled its investment with fund of hedge funds Grosvenor Capital Management.

Grosvenor set up a customized portfolio for the $39.8 billion pension fund a year ago, to which LACERA initially committed $250 million. Now, the pension has added $200 million to that fund of funds, Pensions & Investments reports.

The move comes as LACERA considers whether to hire additional funds of hedge funds as it seeks to reach a 3% hedge fund allocation target. The pension currently invests just 0.7% of its assets with hedge funds.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note