Los Angeles City Employees' Retirement System

About Los Angeles City Employees' Retirement System

Los Angeles City Employees' Retirement System is a public pension fund whose investment portfolio was valued at $24.92 billion as of September 30, 2024. Holdings include private equity, distressed debt, direct lending, real estate, infrastructure, real assets, natural resources, publicly traded equities, fixed income securities, and cash. Returns for the quarter, 1 year, 2 years, 3 years, 5 years, and 10 years were 5.55%, 17.39%, 13.74%, 3.94%, 8.15%, and 7.32%, against benchmark returns of 5.15%, 17.61%, 13.74%, 3.62%, 7.84%, and 7.28%, respectively. On September 30, 2024, the private equity portfolio stood at $4.49 billion, or 18% of the total portfolio, up from $4.42 billion on July 31, 2024. That is overweight relative to the 16% target allocation. Private equity returns as of September 30, 2024 for the quarter, 1 year, 2 years, 3 years, 5 years, and 10 years were 1.63%, 6.56%, 6.14%, 7.09%, 14.89 and 12.67%, against benchmark returns of 0.94% 4.15%, 3.13%, 4.19%, 12.70, and 13.21%, respectively. Private equity strategies are buyouts, mezzanine, diversified private equity, co-investments, private equity growth expansion, secondaries, and venture capital funds. The real asset portfolio was valued at $2.79 billion as of September 30, 2024. The executive management team oversees the fund's investments, with Mr. Rodney June as Chief Investment Officer. Aksia, NEPC, and The Townsend Group (Cleveland) are the LP Consultants.

Real estate mandate

Contacts at Los Angeles City Employees' Retirement System