Los Angeles County Employees Retirement Association has approved a $300m (€259.2m) real estate commitment to a US open-ended fund managed by Bell Partners.
The pension fund disclosed in a board meeting document that it has committed the capital to the Bell Partners Residential Growth & Income Fund.
The core-plus strategy will invest in apartment assets located across the US.
Given that residential real estate accounted for 28% of LACERA’s total real estate portfolio at the start of 2025, compared to the ODCE Index’s 30%, an additional investment in the sector would help the pension fund rebalance its holdings.
Bell Partners declined a request for further comment, and LACERA did not respond to a request for further comment.
As previously reported, LACERA intends to make $1.5bn worth of new core real estate commitments in 2025.
The pace of deployment may deviate from modeled levels based on the pension fund’s total growth, the timing of the separate account assets that are being sold by LACERA, and the availability of investment opportunities.
To read the latest IPE Real Assets magazine click here.
