Los Angeles City Employees Retirement System (LACERS) has agreed to invest up to $50 million in LBA Logistics Value Fund IX, a value-add real estate fund managed by LBA Realty.
Targeting $2 billion in equity commitments, the fund will invest in core-plus and value-add industrial and logistics properties in the United States.
As of October, the fund had secured $1.4 billion in capital commitments and was backed by the Arkansas Teacher Retirement System and the Kern County (Calif.) Employees Retirement Association.
