# LACERA

LACERA is a Pension Fund based in Pasadena, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Pasadena, United States
- **Region:** North America
- **Address:** 300 North Lake Avenue, Pasadena, CA 91101-4199, United States
- **Founded:** 1937
- **Assets under management:** 82232 (Altss estimate)
- **Website:** www.lacera.com
- **LinkedIn:** https://www.linkedin.com/company/lacera

## Regulatory record

- **Reports private funds:** No

## About

LACERA is an independent governmental entity that administers and manages the retirement fund for the County of Los Angeles and outside districts. It is the largest county retirement system in the United States. LACERA administers defined retirement plan benefits for Los Angeles County and outside district employees, has administered the Retiree Healthcare Benefits Program since 1971, and manages the pension plan and Other Post-Employment Benefits trusts that fund these programs.

## Sectors

- Diversified
- Real Estate
- Private Equity
- Infrastructure

## People

- Luis A. Lugo — Chief Executive Officer
- Jonathan Grabel — Chief Investment Officer
- Jude Perez — Deputy Chief Investment Officer

## Questions

### Who runs investment decisions at LACERA?

Jonathan Grabel serves as Chief Investment Officer. Jude Perez acts as Deputy Chief Investment Officer. Decisions follow the investment policy approved by the Board of Investments.

### Does LACERA participate in fund commitments or only direct deals?

LACERA commits to funds and maintains co-investment and secondaries programs. It also runs managed accounts through Innocap and Centerbridge Partners.

### What asset classes receive the largest allocations?

Public equities, real estate, and private equity form core exposures. Real assets include mining royalties via Orion Mine Finance and agriculture via Vision Ridge Partners.

### How does LACERA source investments?

Commitments occur through consultants Meketa and StepStone. Direct secondaries and co-investments supplement fund commitments.

### Which regions does LACERA target outside the United States?

Europe and global markets appear in public equity holdings and private equity funds such as CVC Capital Partners IX.

### What is LACERA's known posture on co-investments alongside external GPs?

LACERA maintains a co-investment program and a real assets emerging manager program managed by GCM Grosvenor and BlackRock.

### How is LACERA related to Los Angeles County?

Los Angeles County acts as plan sponsor. LACERA functions as the independent governmental body that administers the county's defined benefit plans.

## Related profiles

- [Alaska Permanent Fund Corporation](https://altss.com/profile/alaska-permanent-fund-corporation)
- [Piraeus Bank](https://altss.com/profile/piraeus-bank)

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Last updated: 2026-08-11T15:07:12.582Z

Canonical page: https://altss.com/profile/lacera

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology