Los Angeles County Employees Retirement Association Investor Profile

The Los Angeles County Employees Retirement Association (LACERA) is a public pension fund established in 1937 that provides retirement benefits to employees of Los Angeles County, including fire department personnel. With an approximate asset under management of $75 billion, LACERA serves as a key institution in securing the financial future of its members. It manages pensions for over 170,000 active and retired members and operates as one of the largest county pension funds in the United States, adhering to guidelines from the California Public Employees’ Retirement System to promote long-term sustainability.

Investment Strategy

LACERA employs a diversified investment approach to support its objectives. The fund allocates resources across several asset classes, including equities, fixed income, real estate, and private equity. This strategy is designed to ensure the long-term sustainability of the pension fund, enabling it to meet the retirement needs of its members. By investing in a balanced portfolio, LACERA aims to mitigate risks and maintain stability, all while operating under established guidelines.

Private Markets Approach

LACERA includes private equity as one of its asset classes, reflecting a commitment to diversification within its investment portfolio. This approach aligns with the fund’s overall strategy for long-term sustainability, as private equity investments are integrated alongside other assets. While specific details on allocations are not available, the inclusion of private equity indicates its role in broadening the fund’s investment options.

How Fund Managers Should Approach

Fund managers interested in partnering with LACERA should focus on proposals that align with the fund’s diversified investment strategy. This includes emphasizing investments in equities, fixed income, real estate, and private equity, while ensuring compliance with California Public Employees’ Retirement System guidelines. Approaches should prioritize long-term sustainability and risk management to support LACERA’s mission of serving its members effectively.

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Frequently Asked Questions

1. What is the primary purpose of LACERA?
   LACERA provides retirement benefits to employees of Los Angeles County, including fire department personnel, and manages pensions for over 170,000 active and retired members.

2. How many members does LACERA serve?
   LACERA manages pensions for over 170,000 active and retired members from various Los Angeles County departments.

3. What asset classes does LACERA invest in?
   LACERA invests in a diversified portfolio that includes equities, fixed income, real estate, and private equity to ensure long-term sustainability.