LADWP approves $200m in commitments

The US public pension has backed two diversified private equity funds.

Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
AUM: $12.57bn
Allocation to alternatives: 21.95%
Bitesize: $50-100m

Los Angeles Water & Power Employees Retirement Plan has committed $100 million to Searchlight Capital III and $100 million to Providence Strategic Growth IV. The two funds will invest in a wide range of sectors including technology, financial services, consumer goods, retail and business services.

The $12.57 billion US public pension has a 5% target allocation to private equity that currently stands at 4.77%.

As illustrated in the charts below, LADWP currently allocates 21.95% to alternative assets. The pension has a strong appetite for North American buyout funds.

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