Los Angeles City Employees’ Retirement System (LACERS) will raise $250 million in commitments for its $1 billion private equity portfolio, Pensions & Investments reports. The strategic plan for 2011 seeks more capital with existing managers having strong investment returns. As per the plan, private equity consultant of the $10.7 billion system, Hamilton Lane, is likely to recommend 6-10 partnerships in the system’s core portfolio. The investment sizes will be between $10-35 million, as compared to the average $17 million in the core portfolio over the past five years.
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