Los Angeles County Metropolitan Transportation Authority

Los Angeles County Employees Retirement Association (LACERA), based in Pasadena California, provides promised benefits to over 158,000 members, including over 52,000 benefit recipients. LACERA�s pension investment portfolio is approximately $36 billion, with $3.4 billion dedicated to private equity investments. In the private equity space the pension is invested in Credit Suisse CFIG, Gateway Private Equity Fund, GTB Capital Partners, LP, and JP Morgan EMP.LACERA also has $3 billion dedicated towards real estate investments. The pension is currently invested in 19 real estate funds such as, AIG Global Real Estate, CB Richard Ellis, and LaSalle Investment Management.The association utilizes JP Morgan and Pathway Capital in sub-advisory roles for small-cap and mid-cap opportunities, respectively. Internally, the LACERA staff manages the core portfolio and all legacy relationships. The Board of Investment recently approved a 1% allocation to hedge funds.