LACERS uses emerging-manager program to back Bain social-impact fund

Clearlake, private equity, fund closing
Downtown Los Angeles skyline is seen in front of the snow-covered San Gabriel Mountains following a series of El Nino driven storms on Jan. 7, 2016. Photo courtesy Reuters/Bob Riha Jr. - RTX21GLV
  • LACERS policy: EM firms can't have more than $500 mln assets
  • Bain had roughly $75 bln of assets
  • New fund targets investments with social, environmental benefits
Los Angeles City Employees’ Retirement System used its emerging-manager program to make a $10 million commitment to Bain Capital’s new social-impact fund, even though Bain’s size exceeds the limits LACERS set for its emerging managers. LACERS’s emerging-manager policy prohibits firms ...

This content is available for Buyouts subscribers only. Request a free trial to get access for a limited period

If you already have an active Buyouts subscription, please sign in to view this article.

Digital Edition

To read a digital copy of our latest magazine

click here

PE News Briefs