Los Angeles County Employees Retirement Association
Public pension, based in California, reporting $86B in assets, for 194,742 participants.
Composed from this allocator's classification, location and filed figures.
What matters now
- $825Mapproved, 2 funds
$825M approved across 2 funds on 12 Aug 2026: Cheyne Capital Management separate account $750M, Whitman/Peterson Partners V $75M.
12 Aug 2026 · 1 re-up with an existing manager.
- 3 searchesopen now
3 open manager searches: Real Estate Consultant search; Real Estate Consultant search; Passive Cash Overlay Investment Manager search.
opened 12 Aug 2026 · A mandate the plan is hiring for now; a manager can still respond.
Factthe plan's own search notices and minutesFor managers in the searched asset class, consultantsOpen searches → - Consultantchanged
Los Angeles County Employees Retirement Association (LACERA), Board of Investments selects Klausner Kaufman and Nossaman as general consultant
12 Aug 2026 · A new consultant reviews the manager line-up and brings its own shortlist.
13 more people, 10 more advisers, 4 more managers, 10 more commitments and 21 more dated events
Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
People to know
View all people- Chief Investment OfficerWhy: Chief investment officer: owns the allocation decisionNo route on file yet
- Deputy Chief Investment OfficerWhy: Chief investment officer: owns the allocation decisionNo route on file yet
Capital path
who backs this record, through what, into what; each name opens its own path- Jonathan GrabelChief Investment Officer
- Jonathan GrabelChief Investment Officer
- Jude PerezDeputy Chief Investment Officer
- Kingswood Capital Opportunities Fund IV$220M committed
- Court Square Capital V, L.P.$200M committed
- Bregal Sagemount V, L.P.$190M committed
- GCM Grosvenor$400M across 1 commitment
- Kingswood Capital Management, L.P.$320M across 2 commitments
- Court Square Capital$200M across 1 commitment
Relationship network
47 connected entities13 observed commitments1 repeat counterparty$3.2B disclosed commitments (13 commitments)5 dated commitments shown here, 2025 to 2026
From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.
- Sponsor
- Fund or vehicle
- Service provider
- Person
›How strength and recency are read
Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
Size, funding, policy and commitments, with their basesPublic pensionShowHide
Allocation policy
- Overlays & Hedges 1.0%
- Real Assets and Inflation Hedges 14.0%
- Risk Reduction and Mitigation 24.0%
- Other Assets 1.0%
- Credit 12.0%
- Growth 48.0%
Consultants and advisers
- Klausner Kaufman and Nossaman General consultantthrough Aug 12, 2026 Board minutes
- Stepstone Group LLC Specialist consultantPrivate equity consultantthrough Apr 8, 2026 Board minutes
- Albourne America LLC Hedge fund consultantthrough Jun 30, 2025 ACFR
+10 more consultants and advisers advise this allocator
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Decision makers
- Jonathan Grabel · Chief Investment OfficerWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibility
- Jude Perez · Deputy Chief Investment OfficerWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibility
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
People
- Jude Perez Deputy Chief Investment OfficerDeputy CIO
+13 more people on the investment staff and board
Every name, title and published role at this allocator, with the page it was read from.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Manager roster
- GCM Grosvenor$400M, 1 row, latest Dec 10, 2025
- Kingswood Capital Management, L.P.$320M, 2 rows, latest Jun 23, 2026
- Court Square Capital$200M, 1 row, latest May 21, 2026
+4 more managers received commitments
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What changed
- Aug 12, 2026Commitment approvedLos Angeles County Employees Retirement Association (LACERA), Board of Investments reports as committed $750M to Cheyne Capital Management separate account
- Aug 12, 2026Commitment closedLos Angeles County Employees Retirement Association commits $75M to Whitman Peterson Fund V, closed 2026-08-12
- Aug 12, 2026Commitment closedLos Angeles County Employees Retirement Association commits $750M to Cheyne Capital Management separate account, closed 2026-08-12
- Aug 12, 2026Consultant changedLos Angeles County Employees Retirement Association (LACERA), Board of Investments selects Klausner Kaufman and Nossaman as general consultant
- Aug 12, 2026Search openedLos Angeles County Employees Retirement Association (LACERA), Board of Investments opens a Real Estate Consultant search
+21 more dated events
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Commitments
| Date | Fund | Manager | Bucket | Amount | Vintage | Status | Source |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026 | Cheyne Capital Management separate accountseparate account | Cheyne Capital Management | Private credit | $750M | Committed (dated) | lacera.gov | |
| Aug 12, 2026 | Whitman Peterson Fund Vco investment | Whitman Peterson | Real estate | $75.0M | Committed (dated)re-up | lacera.gov | |
| Jun 23, 2026 | Kingswood Capital Opportunities Fund IV | Kingswood Capital Management, L.P. | Private equity | $220M | Committed (dated) | lacera.gov |
+10 more commitments
Every fund and manager this allocator committed to, with the amount, date and source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Size and funding
Commitment history
How the history is foldedOne line per vehicle, folded across the board’s own minutes and the plan’s later reports: when the item was proposed or recommended, when the board approved it, when the closing was dated, and when the position first showed up in a report. A line is closed only when a closing date exists; held means the plan reports the position without one on this graph.| Vehicle | Manager | Amount | State | Proposed | Approved | Closed | First reported | Other LPs |
|---|---|---|---|---|---|---|---|---|
| Cheyne Capital Management separate account | n/a | $750M | closed | - | Aug 12, 2026 | Aug 12, 2026 | - | - |
| Kingswood Capital Opportunities Small Cap Fund I, L.P. | Kingswood Capital Management, L.P. | $100M | closed | - | Jul 8, 2026 | Jun 23, 2026 | - | 1 |
| Kingswood Capital Opportunities Fund IV, L.P. | Kingswood Capital Management, L.P. | $220M | closed | - | Jul 8, 2026 | Jun 23, 2026 | - | 1 |
+10 more board decisions
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Provenance
Provenance
Not yet on record: funded ratio, private markets allocation target.
Los Angeles County Employees Retirement Association sits on 53 traced paths of capital across the graphs.
DFX traced 53 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- Commitment approved2026-08-12source on record
- Commitment made2026-08-12source on record
- Commitment made2026-08-12source on record
+27 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.
›Connections
every published relationship on the graph
+20 connections on the graph
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.