The Los Angeles County Employees Retirement Association (LACERA) has committed $200 million to Net Lease Real Estate Fund II, a vehicle of J.P. Morgan Asset Management.
The closed-end fund invests with a core-plus/value-added strategy and aims to raise $900 million in equity. The vehicle acquires long-term, single-tenant net-lease assets, including industrial, retail and self-storage properties, in the United States.
LACERA, a public pension fund, had $90.8 billion in total assets under management, as of March 31. As of Dec. 31, 2025, the fund had a 7 percent real estate allocation with $4.5 million in total real estate assets.
