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LACERA approves $1.2 billion real estate plan
The board of investments of the $39.2 billion Los Angeles County Employees Retirement System (LACERA) has approved a new real estate plan for the upcoming fiscal year during its June 12 board of investments meeting. The proposal, authored by John McClelland, LACERA principal real estate investment officer, recommends investing an additional $1.2 billion in real estate strategies. Of the total amount, an anticipated $750 million will be invested in the upcoming fiscal year.
The recommendation includes resetting the amount of capital available to LACERA’s existing separate account equity managers — Invesco Real Estate, TA Associates Realty,