LACERS Commits $10M To Private Equity Funds

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.


In Depth

Fund Focus: Asian Frontier Capital Offers U.S. Investors Access To Untapped Markets

Mar 2 2015 | 6:47am ET

Hong-Kong based asset manager Asian Frontier Capital is making a capital raising...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note