Publications

Investors - MARCH 5, 2018

LACERA commits $50m to Europe realty fund

by Jody Barhanovich

The $48.9 billion Los Angeles County Employees Retirement Association has committed $50 million to a Europe realty fund, according to board meeting minutes.

The fund, AG Europe Realty Fund II, is managed by Angelo, Gordon & Co., a privately held investment adviser dedicated to alternative investing that currently manages approximately $28 billion.

AG Europe Realty Fund II is a closed-end real estate fund. The value-added fund invests in office, hotel, industrial, multifamily and retail properties across western Europe and the United Kingdom. It launched in first quarter 2017 with a $750 million maximum fundraising target and has currently raised $252.2 million so far.

The fund’s predecessor, AG Europe Realty Fund, had an assumed final close in 2014, raising $268.7 million for the value-added European fund.

LACERA has a target allocation to real estate of 12.5 percent.

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.