LACERA Steers $325MM Into Open-Ended Funds, Signaling a Pivot Away From Direct Property Deals

The $80 billion Los Angeles pension fund is doubling down on commingled vehicles it argues deliver better diversification than the separate-account model it is moving past. The Los Angeles County Employees Retirement Association has committed $325 million to two open-ended real estate funds, a pair of moves that deepens its core property exposure and underscores […]