Los Angeles City Employees Retirement System (LACERS) has committed $50 million to the LBA Logistics Value Fund X, according to meeting materials from May 13.
LBA Logistics Value Fund X, a vehicle of LBA Realty, is a closed-end, core-plus/value-added fund that targets industrial and logistics properties in the United States. It has a fundraising goal of $2.5 billion. Its predecessor, LBA Logistics Value Fund IX, closed with $1.4 billion in equity, $600 million under its initial fundraising goal. LACERS also committed $50 million to the ninth LBA Logistics Value Fund.
LACERS, a public pension fund, had $24.1 billion in total assets under management, as of Dec. 31, 2024. As of then, it had a 7 percent allocation target with $1.3 billion in total real estate assets.
