Approves $100m into TPG Real Estate Partners III. : Los Angeles County Employees Retirement Association (LACERA) is backing TPG Real Estate’s third opportunity fund with $100m (€87.3m) as it seeks to increase its international exposure. The $56bn pension fund’s international real estate investments were valued at $557m during the first quarter of the year, representing less than 10% of its $6.2bn real estate portfolio. Its target is 15%. LACERA plans is to make $600m of commitments by the end of 2019. A board meeting report shows it is considering funds that target Asia.