LA Fire and Police commits $134m

The $13.2bn system has committed to BC Partners, Baring Asia, Black Diamond and GTCR in recent months.

The LA Fire and Police Pension System has committed about $134 million to private equity and venture capital funds recently, including allocating capital to BC Partners, Baring Asia and Insight Venture Partners VII.

Most recently, the $13.2 billion pension committed about €19 million to BC European Capital IX, which is targeting €6 billion and is giving early backers of the fund – those who make commitments before the first close – a 5 percent discount on all fees and carry.

The pension also committed $25 million to Baring Asia Private Equity Fund V, targeting $1.75 billion, and $20 million to Insight Venture Partners VII, the target of which could not be determined as of press time.

In the fourth quarter, the pension committed $25 million to Black Diamond Capital Management, which has collected $700 million for its third distressed-for-control fund on its way to a $750 million target. The fund has a hard-cap of $1.1 billion.

LA Fire and Police also allocated $25 million to GTCR X, targeting $3 billion, and $20 million to Polaris Venture Partners.

The pension has committed at least $1.26 billion to private equity, or 10 percent of its investment portfolio.