LACERA approves $100m in commitments

The Pasadena-based public pension has backed two agriculture vehicles.

Institution: Los Angeles County Employees’ Retirement Association
Headquarters: Pasadena, US
AUM: $73.75 billion
Allocation to alternatives: 30.2%

Los Angeles County Employees’ Retirement Association has committed $100 million across two agriculture vehicles, according to its April 2022 investment board meeting documents.

The commitments comprise $80 million to Cibus Fund II and $20 million to Cibus Enterprise Fund II. Both funds are managed by the same fund manager based on Hong Kong, ADM Capital.

As illustrated below, LACERA’s recent agriculture commitments have primarily focused on Agtech and buyout vehicles in North America, Asia-Pacific and Western Europe. The pension’s current allocation to alternatives stands at 30.2 percent.

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