Los Angeles City Employees' Retirement System

About Los Angeles City Employees' Retirement System

Los Angeles City Employees' Retirement System's investment portfolio is valued at $24.92 billion as of September 30, 2024 with investments in private equity, distressed debt, direct lending, real estate, infrastructure, real assets, natural resources, publicly traded equities, fixed income securities, and cash. Its 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%, compared to the benchmark return of 5.15%, 17.61%, 13.74%, 3.62%, 7.84%, and 7.28%, respectively. As of September 30, 2024, the private equity portfolio was valued at $4.49 billion, representing 18% of the total portfolio. This is a decrease compared to July 31, 2024, when the private equity portfolio was valued at $4.42 billion. The private equity portfolio is currently overweight compared to the target allocation of 16%. As of September 30, 2024, the fund's private equity return 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%, compared to the benchmark return of 0.94% 4.15%, 3.13%, 4.19%, 12.70, and 13.21%, respectively. Investments in private equity include buyouts, mezzanine, diversified private equity, co-investments, private equity growth expansion, secondaries, and venture capital fund strategies. As of September 30, 2024, the real asset portfolio was valued at $2.79 billion. The fund's investments are governed by the executive management team, with Mr. Rodney June serving as Chief Investment Officer. Aksia, NEPC, and The Townsend Group (Cleveland) serve as LP Consultants.