Ampersand Capital Partners receives $70m from LACERA

The US public pension has backed a North American secondaries fund.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $59.96 billion
Allocation to alternatives: 25.3%

Los Angeles County Employees’ Retirement Association has committed $70 million to Ampersand Continuation Fund, according to the pension’s December 2020 investment board meeting document.

As illustrated below, LACERA’s secondaries fund commitments have focused on the private equity and venture capital sectors across North America and Western Europe. The pension currently allocates 25.3 percent of its full investment portfolio to alternative investments.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.