Los Angeles City Employees' Retirement System

The Los Angeles City Employees' Retirement System (LACERS) is a public pension fund and a department of the City of Los Angeles. Established in 1937, it provides retirement, disability, and health insurance benefits to the civilian employees of the City of Los Angeles. LACERS manages a diversified investment portfolio, which includes significant allocations to private equity, real estate, and public markets. While it is an institutional investor that may provide capital to life science and healthcare companies through its investment funds, it does not engage in drug discovery or clinical development itself. The system is governed by a Board of Administration and serves over 45,000 active and retired members.