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.
In the newsDFX coverage that names this record
1 story- · Institutional commitmentAllocator
It is the pension's third disclosed decision with AE Industrial Partners since 2022, each made by the chief investment officer and reported to the board as information only, and its second $75 million co-investment reported in two months.
What matters now
- $75Mapproved, 1 fund
$75M approved across 1 fund on Oct 14, 2026: AE Industrial Partners $75M.
Oct 14, 2026 · 1 re-up with an existing manager.
- 3 searchesopen now
3 open manager searches: private equity consultant search; Real Estate Consultant search; Passive Cash Overlay Investment Manager search.
opened Oct 14, 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 →
13 more people, 10 more advisers, 7 more managers, 12 more commitments and 24 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.
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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
- Triton Investments Advisers LLP$400M across 1 commitment
- GCM Grosvenor$400M across 1 commitment
- Kingswood Capital Management, L.P.$320M across 2 commitments
Relationship network
52 connected entities15 observed commitments1 repeat counterparty$3.5B disclosed commitments (15 commitments)6 dated commitments shown here, 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
- Altus Group US, Inc. Real estate 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.
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People
- 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.
- 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.
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Manager roster
- Triton Investments Advisers LLP$400M, 1 row, latest May 26, 2026
- GCM Grosvenor$400M, 1 row, latest Dec 10, 2025
- Kingswood Capital Management, L.P.$320M, 2 rows, latest Jun 23, 2026
+7 more managers received commitments
Every name, record and relationship behind this count, with the source on each.
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What changed
- Oct 14, 2026Search openedLos Angeles County Employees Retirement Association opens a private equity consultant search
- Oct 14, 2026Commitment approvedLos Angeles County Employees Retirement Association reports as committed $75M to AE Industrial Partners, L.P.with AE Industrial Partners, LPlacera.gov
- Sep 16, 2026Commitment closedLos Angeles County Employees Retirement Association commits $200M to Energy Capital Partners VI, LP, closed 2026-09-16with Energy Capital Partnerslacera.gov
- 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 $750M to Cheyne Capital Management separate account, closed 2026-08-12
+24 more dated events
Every name, record and relationship behind this count, with the source on each.
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Commitments
| Date | Fund | Manager | Bucket | Amount | Vintage | Status | Source |
|---|---|---|---|---|---|---|---|
| as of Oct 14, 2026 | AE Industrial Partners, L.P.co investment | AE Industrial Partners, LP | Private equity | $75.0M | Approvedre-up | lacera.gov | |
| Sep 16, 2026 | Energy Capital Partners VI, LP | Energy Capital Partners | Real assets | $200M | Committed (dated) | lacera.gov | |
| Aug 12, 2026 | Cheyne Capital Management separate accountseparate account | Cheyne Capital Management | Private credit | $750M | Committed (dated) | lacera.gov |
+12 more commitments
Every fund and manager this allocator committed to, with the amount, date and source on each.
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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 |
+12 more board decisions
Every name, record and relationship behind this count, with the source on each.
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Provenance
Provenance
Not yet on record: funded ratio, private markets allocation target.
Los Angeles County Employees Retirement Association sits on 66 traced paths of capital across the graphs.
DFX traced 66 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
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Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- Search opened2026-10-14source on record
- Commitment approved2026-10-14source on record
- Commitment made2026-09-16source on record
+30 more changes on this record's ledger
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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
+21 connections on the graph
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