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.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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