The Los Angeles City Employees’ Retirement System (LACERS) has committed up to $85 million to Carlyle Property Investors.
Carlyle Property Investors, a vehicle of The Carlyle Group, is an open-end, core-plus fund targeting income-generating real estate assets, such as multifamily housing, senior living, medical offices, life sciences, self-storage and industrial properties in the United States. The fund will target 30 percent of its capital to the East, 20 percent in the South, 20 percent in the Midwest and 30 percent in the West.
LACERS is a public pension fund with $24.1 billion in total assets under management, as of Dec. 31, 2024. As of then, the fund had a 7 percent real estate allocation target with $1.3 billion in total real estate assets.
