Los Angeles Pension Fund Eyes Co-Investing in Private Equity

Co-investing in private-equity funds alongside sponsors and other investors has attracted the attention of the pension fund for city workers in Los Angeles, which will take up a proposal to adopt the strategy this week.

Investment professionals working for the Los Angeles City Employees’ Retirement System will present a road map to set up a co-investment program for the fund, according to documents prepared for the Wednesday meeting. Such funds typically offer lower management costs than generally apply to private-equity investments…