Friday, 27 February 2015
Last updated 5 hours ago
Mar 14 2008 | 11:17am ET
The $11 billion Los Angeles City Employees Retirement System is increasing its bets on private equity this year to the tune of $300 million.
According to the system’s Web site, its investment committee recently directed p.e. consultants Hamilton Lane and Pension Consulting Alliance to develop a draft of the 2008 Alternative Investments Strategic Plan. In response, the consultants have recommended the system allocate a total of $300 million in order to reach the 8% private equity target allocation.
Of the $300 million, $60 million is recommended for the Pension Consultant Alliance carve-out allocation, which will fund six to eight p.e. partnerships. The remaining $240 million is recommended for the Hamilton Lane allocation, which is will fund an additional eight to 12 partnerships.
A call made to CIO Daniel Gallagher seeking further comments was not returned before press time.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…