Los Angeles County Employees Retirement Association (LACERA) is planning potential new commitments to core real estate in 2025 of up to $1.5bn (€1.4bn), according to company documents.
The new capital could be placed in open-ended commingled funds that may include a mixture of diversified funds and those that are focused on a single property type.
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, the pension fund said.
The planned investment may be spread over six to 10 commitments between now and 2027 with each commitment ranging in size from $100m to $600m.
LACERA has also formed a plan to issue commitments of $600m into non-core real estate during 2025.
The pension fund said it is considering investments across housing, healthcare and e-commerce.
A final decision is expected in early 2025.
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