Investment pools
Los Angeles City Employees' Retirement System
Total Fund
Allocation as of · Allocation report ↗
Net market value$28.82B
Where the fund is invested
Select a band to explore its allocation.
Total fund$28.82B
Allocation by sleeve
The monthly report gives policy targets. The board’s interim transition schedule uses a different target series, so policy-band distances are omitted here.
| Sleeve | Market value | Actual | Target | Vs target | Policy range | Above min. | Below max. |
|---|---|---|---|---|---|---|---|
| U.S. Equity | $6.55B | 22.73% | 23% | −0.27 pp | — | — | — |
| Non-U.S. Equity | $6.6B | 22.9% | 20% | +2.9 pp | — | — | — |
| Core Fixed Income | $3.77B | 13.09% | 10.25% | +2.84 pp | — | — | — |
| Credit Opportunities | $2.21B | 7.67% | 7% | +0.67 pp | — | — | — |
| Private Equity | $5.43B | 18.83% | 16% | +2.83 pp | — | — | — |
| Private Credit | $721.8M | 2.5% | 5.75% | −3.25 pp | — | — | — |
| Real Assets | $3.25B | 11.28% | 17% | −5.72 pp | — | — | — |
| Cash | $282.9M | 0.98% | 1% | −0.02 pp | — | — | — |
Rebalancing policy and actions
- The portfolio is rebalanced to stay within approved allocation ranges and investment advisor distributions. The CIO oversees implementation under the investment policy.
- The board approved an interim transition schedule toward the long-term allocation. The sub-sleeve targets shown in the chart are from that schedule.
This profile pairs the monthly allocation report with the published policy and dated advisor roster.
Managers by sleeve
Reported roster as of · Manager roster ↗. The FY2025 advisor roster predates the separate July 2026 Private Credit allocation. Mandates can change after the roster date.
U.S. Equity6 roster entries
Sub-sleeves and exposures
Reported roster
- Copeland Capital Management, LLC Reported investment advisor · U.S. Equity · Source ↗
- EAM Investors, LLC Reported investment advisor · U.S. Equity · Source ↗
- Granahan Investment Management Reported investment advisor · U.S. Equity · Source ↗
- Principal Global Investors, LLC Reported investment advisor · U.S. Equity · Source ↗
- RhumbLine Advisers Limited Partnership Reported investment advisor · U.S. Equity · Source ↗
- Segall Bryant & Hamill Reported investment advisor · U.S. Equity · Source ↗
Non-U.S. Equity8 roster entries
Sub-sleeves and exposures
Reported roster
- Axiom Investors, LLC Reported investment advisor · Non-U.S. Equity · Source ↗
- Barrow, Hanley, Mewhinney & Strauss, LLC Reported investment advisor · Non-U.S. Equity · Source ↗
- Dimensional Fund Advisors LP Reported investment advisor · Non-U.S. Equity · Source ↗
- Lazard Asset Management, LLC Reported investment advisor · Non-U.S. Equity · Source ↗
- MFS Institutional Advisors, Inc. Reported investment advisor · Non-U.S. Equity · Source ↗
- Oberweis Asset Management, Inc. Reported investment advisor · Non-U.S. Equity · Source ↗
- State Street Global Advisors Trust Company Reported investment advisor · Non-U.S. Equity · Source ↗
- Wasatch Advisors Inc. Reported investment advisor · Non-U.S. Equity · Source ↗
Core Fixed Income6 roster entries
Reported roster
- Garcia Hamilton & Associates, L.P. Reported investment advisor · Fixed Income · Source ↗
- Income Research & Management Reported investment advisor · Fixed Income · Source ↗
- J.P. Morgan Asset Management Reported investment advisor · Fixed Income · Source ↗
- Loomis, Sayles & Company, L.P. Reported investment advisor · Fixed Income · Source ↗
- Robert W. Baird & Co., Incorporated Reported investment advisor · Fixed Income · Source ↗
- State Street Global Advisors Trust Company Reported investment advisor · Fixed Income · Source ↗
Credit Opportunities17 roster entries
Sub-sleeves and exposures
Reported roster
- 400 Capital Management Reported investment advisor · Credit Opportunities · Source ↗
- Bain Capital Credit, L.P. Reported investment advisor · Credit Opportunities · Source ↗
- Benefit Street Partners L.L.C. Reported investment advisor · Credit Opportunities · Source ↗
- Centre Lane Partners, LLC Reported investment advisor · Credit Opportunities · Source ↗
- Crescent Capital Group LP Reported investment advisor · Credit Opportunities · Source ↗
- Dawson Partners Inc. Reported investment advisor · Credit Opportunities · Source ↗
- HPS Investment Partners LLC Reported investment advisor · Credit Opportunities · Source ↗
- ICG Plc Reported investment advisor · Credit Opportunities · Source ↗
- Loomis, Sayles & Company, L.P. Reported investment advisor · Credit Opportunities · Source ↗
- Monroe Capital Advisors LLC Reported investment advisor · Credit Opportunities · Source ↗
- Polen Capital Credit, LLC Reported investment advisor · Credit Opportunities · Source ↗
- PGIM, Inc. Reported investment advisor · Credit Opportunities · Source ↗
- Putnam Hill Capital Partners Reported investment advisor · Credit Opportunities · Source ↗
- Quantum Capital Group Reported investment advisor · Credit Opportunities · Source ↗
- Silver Point Capital, L.P. Reported investment advisor · Credit Opportunities · Source ↗
- TPG Twin Brook Reported investment advisor · Credit Opportunities · Source ↗
- Wellington Management Company LLP Reported investment advisor · Credit Opportunities · Source ↗
Private Equity121 roster entries
Reported roster
- 1315 Capital LLC Reported investment advisor · Private Equity · Source ↗
- Genstar Capital Reported investment advisor · Private Equity · Source ↗
- 3 Boomerang Capital, L.P. Reported investment advisor · Private Equity · Source ↗
- GGV Capital Reported investment advisor · Private Equity · Source ↗
- ABRY Partners LLC Reported investment advisor · Private Equity · Source ↗
- Gilde Buy Out Partners BV Reported investment advisor · Private Equity · Source ↗
- ACON Investments, L.L.C. Reported investment advisor · Private Equity · Source ↗
- Glendon Capital Management LP Reported investment advisor · Private Equity · Source ↗
- Advent International Corp. Reported investment advisor · Private Equity · Source ↗
- GTCR LLC Reported investment advisor · Private Equity · Source ↗
- AION Capital Partners Reported investment advisor · Private Equity · Source ↗
- The Halifax Group, LLC Reported investment advisor · Private Equity · Source ↗
- Altaris, LLC Reported investment advisor · Private Equity · Source ↗
- HarbourVest Partners, LLC Reported investment advisor · Private Equity · Source ↗
- American Securities LLC Reported investment advisor · Private Equity · Source ↗
- Harvest Partners Reported investment advisor · Private Equity · Source ↗
- Angeleno Group LLC Reported investment advisor · Private Equity · Source ↗
- Hellman & Friedman LLC Reported investment advisor · Private Equity · Source ↗
- Angeles Equity Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Hg Capital, LLC Reported investment advisor · Private Equity · Source ↗
- Apollo Global Management, LLC Reported investment advisor · Private Equity · Source ↗
- H.I.G. Capital Reported investment advisor · Private Equity · Source ↗
- Arsenal Capital Partners Reported investment advisor · Private Equity · Source ↗
- High Road Capital Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Ascribe Capital, LLC Reported investment advisor · Private Equity · Source ↗
- Hony Capital Reported investment advisor · Private Equity · Source ↗
- Astorg Group, LLC Reported investment advisor · Private Equity · Source ↗
- Incline Equity Partners Reported investment advisor · Private Equity · Source ↗
- Astra Capital Management LLC Reported investment advisor · Private Equity · Source ↗
- Insight Partners Reported investment advisor · Private Equity · Source ↗
- Auldbrass Partners Reported investment advisor · Private Equity · Source ↗
- Institutional Venture Partners Reported investment advisor · Private Equity · Source ↗
- Avance Investment Management Reported investment advisor · Private Equity · Source ↗
- Intermediate Capital Group Inc Reported investment advisor · Private Equity · Source ↗
- Bain Capital Reported investment advisor · Private Equity · Source ↗
- JH Whitney & Co. Reported investment advisor · Private Equity · Source ↗
- BC Partners Reported investment advisor · Private Equity · Source ↗
- Khosla Ventures Reported investment advisor · Private Equity · Source ↗
- Bessemer Venture Partners Reported investment advisor · Private Equity · Source ↗
- Knox Lane Reported investment advisor · Private Equity · Source ↗
- Biospring Partners Reported investment advisor · Private Equity · Source ↗
- KPS Capital Partners Reported investment advisor · Private Equity · Source ↗
- Black Diamond Capital Management Reported investment advisor · Private Equity · Source ↗
- L2 Point Management, LLC Reported investment advisor · Private Equity · Source ↗
- Blackstone Group Inc. Reported investment advisor · Private Equity · Source ↗
- Leonard Green & Partners LP Reported investment advisor · Private Equity · Source ↗
- Blue Sea Capital LLC Reported investment advisor · Private Equity · Source ↗
- Levine Leichtman Capital Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Brentwood Associates, Inc. Reported investment advisor · Private Equity · Source ↗
- Lightbay Capital Reported investment advisor · Private Equity · Source ↗
- Builders VC Reported investment advisor · Private Equity · Source ↗
- Longitude Capital Reported investment advisor · Private Equity · Source ↗
- Cardinal Partners Reported investment advisor · Private Equity · Source ↗
- Mayfield Group Reported investment advisor · Private Equity · Source ↗
- Carlyle Group Inc. Reported investment advisor · Private Equity · Source ↗
- MBK Partners L.P. Reported investment advisor · Private Equity · Source ↗
- Centana Growth Partners Reported investment advisor · Private Equity · Source ↗
- Mill Point Capital, LLC Reported investment advisor · Private Equity · Source ↗
- Charterhouse Capital Partners LLP Reported investment advisor · Private Equity · Source ↗
- Nautic Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Cinven Reported investment advisor · Private Equity · Source ↗
- New Enterprise Associates, LLC Reported investment advisor · Private Equity · Source ↗
- Clearlake Capital Group Reported investment advisor · Private Equity · Source ↗
- New Mountain Capital, LLC Reported investment advisor · Private Equity · Source ↗
- Coller Capital Limited Reported investment advisor · Private Equity · Source ↗
- New Water Capital, L.P. Reported investment advisor · Private Equity · Source ↗
- CVC Capital Partners Reported investment advisor · Private Equity · Source ↗
- NGEN Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Defy Partners Management, LLC Reported investment advisor · Private Equity · Source ↗
- NGP Energy Capital Management, LLC Reported investment advisor · Private Equity · Source ↗
- EIG Global Energy Partners Reported investment advisor · Private Equity · Source ↗
- New MainStream Capital Reported investment advisor · Private Equity · Source ↗
- Encap Investments L.P. Reported investment advisor · Private Equity · Source ↗
- Nordic Capital, L.P. Reported investment advisor · Private Equity · Source ↗
- Energy Capital Partners Reported investment advisor · Private Equity · Source ↗
- Oak HC/FT Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Essex Woodland Health Ventures Reported investment advisor · Private Equity · Source ↗
- Oak Investment Partners, L.P. Reported investment advisor · Private Equity · Source ↗
- FIMI Ltd. Reported investment advisor · Private Equity · Source ↗
- Oaktree Capital Management, L.P. Reported investment advisor · Private Equity · Source ↗
- First Reserve Corporation Reported investment advisor · Private Equity · Source ↗
- OceanSound Partners Fund, L.P. Reported investment advisor · Private Equity · Source ↗
- Fortress Investment Group Reported investment advisor · Private Equity · Source ↗
- Onex Partners Reported investment advisor · Private Equity · Source ↗
- Francisco Partners Reported investment advisor · Private Equity · Source ↗
- Orchid Asia Group Reported investment advisor · Private Equity · Source ↗
- Freeman Spogli & Co. Inc. Reported investment advisor · Private Equity · Source ↗
- P4G Capital Management, LLC Reported investment advisor · Private Equity · Source ↗
- General Catalyst Partners Reported investment advisor · Private Equity · Source ↗
- Palladium Equity Partners, L.P. Reported investment advisor · Private Equity · Source ↗
- Permira, L.P. Reported investment advisor · Private Equity · Source ↗
- Pharos Capital Group, LLC Reported investment advisor · Private Equity · Source ↗
- Platinum Equity, LLC Reported investment advisor · Private Equity · Source ↗
- Polaris Partners, L.P. Reported investment advisor · Private Equity · Source ↗
- Providence Equity Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Quantum Capital Group Reported investment advisor · Private Equity · Source ↗
- Reverence Capital Partners Reported investment advisor · Private Equity · Source ↗
- Roark Capital Group Reported investment advisor · Private Equity · Source ↗
- Searchlight Capital Partners, L.P. Reported investment advisor · Private Equity · Source ↗
- SK Capital Partners L.P. Reported investment advisor · Private Equity · Source ↗
- Spark Capital Reported investment advisor · Private Equity · Source ↗
- Spire Capital Management, LLC Reported investment advisor · Private Equity · Source ↗
- St. Cloud Capital Partners, L.P. Reported investment advisor · Private Equity · Source ↗
- Stellex Capital Management Reported investment advisor · Private Equity · Source ↗
- StepStone Group, L.P. Reported investment advisor · Private Equity · Source ↗
- Stripes Group, LLC Reported investment advisor · Private Equity · Source ↗
- Sunstone Partners Reported investment advisor · Private Equity · Source ↗
- TA Associates Management, L.P. Reported investment advisor · Private Equity · Source ↗
- Technology Crossover Ventures, LLC Reported investment advisor · Private Equity · Source ↗
- Thoma Bravo, LLC Reported investment advisor · Private Equity · Source ↗
- Threshold Ventures Inc. (formerly DFJ Venture Reported investment advisor · Private Equity · Source ↗
- TPG Capital Advisors, LLC Reported investment advisor · Private Equity · Source ↗
- Trident Capital Reported investment advisor · Private Equity · Source ↗
- Ulu Ventures Reported investment advisor · Private Equity · Source ↗
- Upfront Ventures Reported investment advisor · Private Equity · Source ↗
- VantagePoint Venture Partners, L.P. Reported investment advisor · Private Equity · Source ↗
- Vicente Capital Partners, LLC Reported investment advisor · Private Equity · Source ↗
- Vista Equity Partners Management, LLC Reported investment advisor · Private Equity · Source ↗
- Vitruvian Partners, LLP Reported investment advisor · Private Equity · Source ↗
- Wynnchurch Capital, L.P. Reported investment advisor · Private Equity · Source ↗
- Yucaipa Alliance Management, LLC Reported investment advisor · Private Equity · Source ↗
Private CreditAllocation line
The June 2025 advisor roster groups credit advisors under Credit Opportunities. The July 2026 report shows Private Credit separately.
Real Assets42 roster entries
Sub-sleeves and exposures
- Public Real Assets 10% of total fund · Jul 2026 interim target · Source ↗
- TIPS 3.6% of total fund · Jul 2026 interim target · Source ↗
- REITs 1.4% of total fund · Jul 2026 interim target · Source ↗
- Infrastructure 5% of total fund · Jul 2026 interim target · Source ↗
- Real Estate 6% of total fund · Jul 2026 interim target · Source ↗
Reported roster
- CenterSquare Investment Management LLC Public Real Assets · Reported investment advisor · Source ↗
- Dimensional Fund Advisors LP Public Real Assets · Reported investment advisor · Source ↗
- Almanac Realty Partners, LLC Real Estate · Reported investment advisor · Source ↗
- Apollo Global Management, LLC Real Estate · Reported investment advisor · Source ↗
- Ares Management Corp. Real Estate · Reported investment advisor · Source ↗
- Asana Partners, LP Real Estate · Reported investment advisor · Source ↗
- Berkshire Group Real Estate · Reported investment advisor · Source ↗
- Bristol Group, Inc. Real Estate · Reported investment advisor · Source ↗
- Broadview Real Estate Partners Real Estate · Reported investment advisor · Source ↗
- Brookfield Asset Management Inc. Real Estate · Reported investment advisor · Source ↗
- Bryanston Realty Partners Real Estate · Reported investment advisor · Source ↗
- Carlyle Group Inc. Real Estate · Reported investment advisor · Source ↗
- Cerberus Capital Management Real Estate · Reported investment advisor · Source ↗
- CIM Group LLC Real Estate · Reported investment advisor · Source ↗
- Clarion Partners Real Estate · Reported investment advisor · Source ↗
- Cortland Partners, LLC Real Estate · Reported investment advisor · Source ↗
- DLJ Real Estate Capital Partners Real Estate · Reported investment advisor · Source ↗
- DRA Advisors LLC Real Estate · Reported investment advisor · Source ↗
- EQT Group Real Estate · Reported investment advisor · Source ↗
- Gerrity Group, LLC Real Estate · Reported investment advisor · Source ↗
- Hancock Timber Resource Group, Inc. Real Estate · Reported investment advisor · Source ↗
- Heitman LLC Real Estate · Reported investment advisor · Source ↗
- Invesco Advisors, Inc. Real Estate · Reported investment advisor · Source ↗
- Jamestown L.P. Real Estate · Reported investment advisor · Source ↗
- JP Morgan Chase & Co. Real Estate · Reported investment advisor · Source ↗
- Kayne Anderson Capital Advisors, L.P. Real Estate · Reported investment advisor · Source ↗
- LBA Logistics Real Estate · Reported investment advisor · Source ↗
- Lone Star Funds Real Estate · Reported investment advisor · Source ↗
- Morgan Stanley & Co., LLC Real Estate · Reported investment advisor · Source ↗
- Northbridge Partners Real Estate · Reported investment advisor · Source ↗
- NREP Logistics AB Real Estate · Reported investment advisor · Source ↗
- Oaktree Capital Management, L.P. Real Estate · Reported investment advisor · Source ↗
- PCCP, LLC Real Estate · Reported investment advisor · Source ↗
- Principal Financial Services, Inc. Real Estate · Reported investment advisor · Source ↗
- Standard Life Investments Limited Real Estate · Reported investment advisor · Source ↗
- Stockbridge Capital Group Real Estate · Reported investment advisor · Source ↗
- The Wolff Company Real Estate · Reported investment advisor · Source ↗
- Torchlight Investors, LLC Real Estate · Reported investment advisor · Source ↗
- TPG Capital Advisors, LLC Real Estate · Reported investment advisor · Source ↗
- Walton Street Capital Real Estate · Reported investment advisor · Source ↗
- Waterton Associates LLC Real Estate · Reported investment advisor · Source ↗
- Westpoint Capital Partners LLC Real Estate · Reported investment advisor · Source ↗
Cash1 roster entries
Reported roster
- The Northern Trust Company Reported investment advisor · Cash & Short-Term · Source ↗