LADWP approves $100m commitment

The US public pension has backed a diversified North American buyout fund.

Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
AUM: $13.38bn
Allocation to alternatives: 23.84%
Bitesize: $50-100m

Los Angeles Water & Power Employees Retirement Plan committed $100 million to Green Equity Investors VIII. The buyout fund will be used to invest in North America-based companies within the consumer goods, healthcare, retail and business services sectors.

The $13.38 billion US public pension has an 8 percent target allocation to private equity that currently stands at 5 percent.

As illustrated in the charts below, LADWP devotes 23.84 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for buyout funds based in North America and Western Europe.

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