The Los Angeles County Employees Retirement Association (LACERA) has committed $812 million to funds managed by Clarion and PGIM, according to meeting materials.
PRISA, an open-end core real estate fund managed by PGIM, received $400 million. This fund invests in industrial, apartment, retail, office and alternatives in the United States. A fundraising target has not been disclosed.
Clarion Lion Properties Fund, an open-end, core fund investing in a diversified portfolio of residential, industrial, office and retail properties in the United States.
LACERA, a public pension fund, had $85.2 billion in total assets under management, as of Dec. 31, 2025, with a 5 percent real estate allocation target and $4.5 billion in total real estate assets.
