Wednesday, 27 May 2015
Last updated 44 min ago
Dec 20 2007 | 1:02pm 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…