As part of our transparency efforts and in accordance with applicable laws, LACERA publishes disclosures related to our investment activities.
California Assembly Bill 2833 requires public pension systems to obtain information on fees, expenses, and carried interest information in connection with alternative investment vehicles for all new commitments made on and after January 1, 2017 and disclose the results at least annually.
As part of our obligations under AB 2833 (Section 7514.7 of the Government Code), LACERA publishes an annual expense and fee report providing maximum transparency within the limitations of the law and existing confidentiality agreements.
Placement Agent Disclosures
Investment managers in both the public and private markets use placement agents to help them raise capital. Under LACERA policy, each external manager must complete and deliver a Placement Agent Disclosure and SEC Compliance Form to LACERA prior to LACERA investing any money with that manager. This helps ensure that all investment decisions are made solely on their merits and in a manner consistent with the fiduciary duties of the Board of Investments.
Investments by Asset Class Reports
The Board of Investments requires periodic performance reports to monitor the fund, and maintains a public repository of the reports broken out by class.
See the Public Records section for our reports of investments by asset class.