LA County pension fund will send $250M to international real estate funds

LACERA will focus on getting higher returns overseas than it can in U.S.

TRD LOS ANGELES /
Jan.January 31, 2019 10:00 AM
LACERA CEO Lou Lazatin (Credit: Wikipedia)

The Los Angeles County Employees Retirement Association is putting $250 million towards international real estate funds this year.

The association, which represents 165,000 current and former county employees, will put $120 million into Asia, $100 million into Europe, and $30 million into Latin America, according to IPE Real Assets. Cleveland-based consultant The Townsend Group will advise on the investments.

LACERA will focus on opportunistic funds that can create returns of more than 100 basis points, or one percent, higher than returns it can get investing stateside.

Nearly all of LACERA’s $6.2 billion in real estate assets are in the United States. In 2016 LACERA announced a plan to increase its allocation in international properties to 15 percent over three to five years.

Last March, LACERA put $50 million towards a Europe real estate fund managed by Angelo Gordon & Company. Earlier this month it put another $100 million into an Angelo Gordon fund for Asian real estate.

Real estate accounts for about 11 percent of LACERA’s $56 billion in assets. Around a third of its real estate is multifamily, 22 percent is office, followed by smaller retail and industrial portfolios. [IPE Real Assets]Dennis Lynch 


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

arrow_forward_ios
Loading...