LACERS Commits $10M To Private Equity Funds

Dec 20 2007 | 2:02pm ET

The $11 billion Los Angeles City Employees Retirement System this month committed $10 million to a pair of $300 million buyout funds.

According to minutes from the system’s meeting on Dec. 11, LACERS is allocating $5 million to the Relativity Fund, a women-owned, first-time fund. The New York-based p.e. fund is looking to raise up to $300 million in invest in growth and distressed companies within North America. The general partners, led by Leslie Armitage, formerly with the Carlyle Group, and Joyce Miller, formerly with Cerberus, are committing $3 million to the fund.

In addition, LACERS is committing $5 million to another New York-based p.e. fund, Spire Capital Partners II, which is raising $300 million to invest in the business services, information services, media and communication sectors. The general partner of the fund will commit at least $6 million to the new offering.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of