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LACERS commits $70m total to cold storage and data center funds
Investors - JANUARY 30, 2025

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LACERS commits $70m total to cold storage and data center funds

by Elise Mackanych

The Los Angeles City Employees Retirement System (LACERS) has committed $70m to two funds: Principal Data Center Growth & Income Fund and WCP NewCold III.

Principal Data Center Growth & Income Fund, a program of Principal Asset Management, received $35 million. This fund is an opportunistic, closed-end fund that will invest in existing data center assets across the United States. It has a fundraising goal of $3 billion. This investment follows previous commitments from Tennessee Consolidated Retirement System and Los Angeles Fire & Police Pensions.

WCP NewCold III, a vehicle of Westport Capital Partners, received $35 million. This fund is an opportunistic, closed-end fund that invests in the development of cold storage warehouses. This commitment follows the

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