LACERS backs Wolff Credit Partners III
Los Angeles (Calif.) City Employees’ Retirement System (LACERS) has committed $35 million to Wolff Credit Partners III, a private real estate fund managed by The Wolff Company.
Wolff Credit Partners III, which opened to investors in September 2020, will invest in multifamily debt in the United States. The fund will follow a core-plus, value-add investment strategy.
According to a recent board meeting document, the investment was approved unanimously in April and closed on June 17. LACERS said the commitment aligns with its strategic plan goal to optimize long-term risk-adjusted investment returns.