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Investors - NOVEMBER 18, 2021

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Los Angeles City Employees puts $50m in LBA Logistics Value Fund IX

by Kali Persall

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.

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