People look on and photograph the famed Hollywood sign as preparations for the 88th Academy Awards continue, in Los Angeles on Feb. 26, 2016. Photo courtesy Reuters/Carlo Allegri
LA City portfolio was cash-flow positive for five years
Larger 2013-2016 commitments led to more capital calls
PE portfolio netting 11 pct IRR
Los Angeles City Employees’ Retirement System’s five-year streak of positive cash flows from its private equity program came to a close last year. Distributions — the money LACERS receives from its PE managers — were outpaced by capital calls for the first ...