Investors - APRIL 13, 2015

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LACERA plans on $875m for real estate investments

by Zoe Loza

The board of investment real estate committee of the Los Angeles County Employees Retirement Association met April 8 to discuss the association’s real estate plan for the 2015–2016 fiscal year. As part of the plan, the pension fund will be looking to invest up to $875 million in real estate.

The $51 billion pension fund will separate these investments into three categories, according to meeting documents provided by John McClelland, principal real estate investment officer. Those categories are $550 million for separate account equity investment, $200 million for a separate account debt investment and an estimated $125 million of commingled funds interests.

The real estate plan also notes that, going into the year, LACERA’s real estate allocation was at 10.8 percent of its total assets, just above the target allocation of 10 percent, but within the total allocation range for real estate of 7 percent to 15 percent. The proposed plan anticipate

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