LA County’s PE program costs were $37 mln higher than reported

Lacera, Los Angeles County Employees Retirement Association, private equity, pension fund
People watch the solar eclipse on the lawn of Griffith Observatory in Los Angeles, California, U.S., August 21, 2017. Location coordinates for this image are 34°7'9"N 118°18'1"W. REUTERS/Mario Anzuoni - RTS1CQ39
  • LACERA PE program exceeded reported costs by $37 mln
  • Pavilion report required 3500-plus hours to dig through fee, expense data
  • LACERA: transparency, fee review “ongoing” project
Los Angeles County Employees Retirement Association’s private equity program last year cost 71 percent more than what the $52.5 billion retirement association previously reported, an external consultant report obtained by Buyouts shows. The Aug. 9 report, prepared for LACERA by Pavilion ...

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