Institutional Investors

LACERA trustees focus on FoHFs


Los Angeles County Employees’ Retirement Association (LACERA) considered a shortlist of funds of hedge funds at its June meeting.

The $34 billion pension fund has set aside 1% for hedge funds and the expected size of the new mandate is approximately $250 million to be managed in a customised mandate. Trustees heard presentations from Grosvenor Capital Management, Blackstone Alternative Asset Management and Goldman Sachs Hedge Fund Strategies.

The FoHF hired by LACERA was originally slated to be charged with developing a portfolio that would have high levels of transparency at the underlying fund level and to put together