Investors - FEBRUARY 12, 2014

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LACERS invests in energy infrastructure

by Andrea Waitrovich

The $11.9 billion Los Angeles City Employees’ Retirement System has committed $25 million to an energy fund, according to the minutes from its Jan. 28 meeting.

LACERS invested in the EIG Energy Fund XVI, an infrastructure fund managed by EIG Global Energy Partners. Fund XVI is the largest fund in EIG’s history and includes capital commitments from 150 limited partners from 18 countries. The firm had a $6 billion close in December 2013. Fund XVI will continue EIG’s business of making hybrid debt and structured equity investments in energy and energy-related infrastructure companies and projects on a global basis.

The commitment is a follow-on investment. LACERS’ first commitment to EIG was EIG Energy Fund XV.

In other news, LACERS is searching for a manger to manage $65 million for U.S. or global REIT investments. An official announcement will posted in March.

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