LACERS to commit up to $25m to real estate fund
The $15.5 billion Los Angeles City Employees Retirement System plans to commit up to $25 million to Heitman Asia-Pacific Property Investors, according to its June 13 investment committee agenda.
LACERS’ real estate consultant, The Townsend Group, recommended the commitment. A final approval of the commitment will be made at its June 13 investment committee meeting.
Heitman Asia-Pacific Property Investors is a non-U.S. focused real estate fund that follows a value-added investment strategy. The fund will invest in real estate investment opportunities in the Asia-Pacific region, primarily in Australia, Japan, Hong Kong, and Singapore. Investments may include a mix of traditional property
types such as office, industrial, retail, and residential and specialty property types such as self-storage, student housing, and medical office.
The fund previously received a $50 million comm