LACERS Adds $300M To Private Equity Allocation

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.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.