LACERA approves €250m to HitecVision Europe infrastructure fund
Los Angeles County Employees Retirement Association (LACERA) has approved a total €250m commitment to a fund managed by European energy sector investment manager HitecVision.
The pension fund disclosed in a board meeting document that it has placed €200m directly into HitecVision New Energy Fund (NEF) 2 and invested €50m into a co-investment sidecar associated with the fund.
Fundraising details of HitecVision NEF 2 are currently unknown.
HitecVision NEF, the previous fund in the series closed in August 2022, reaching its hard cap of €875m, exceeding its €500m. LACERA was an investor in HitecVision NEF.
HitecVision NEF was the manager’s first non-oil and gas fund, and targetted investments in onshore and offshore wind power, district heating with carbon capture, and other energy transition initiatives.
LACERA also said it sold its ground lease interest in the ROW NYC Hotel, a hotel asset within its real estate portfolio without disclosing the sale price.
LACERA held this interest as part of a joint venture with 700 Milford Holdings.
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