Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
Allocation to alternatives: 21.95%
The Los Angeles Water & Power Employees Retirement Plan committed $100 million to Genstar Capital Partners IX. The North American buyout fund, which closed in February at $7 billion, will invest in middle-market healthcare and life science companies.
The US public pension has an 8% target allocation to private equity that currently stands at 4%.
As illustrated in the charts below, LADWP currently allocates 21.95% to alternative assets. The pension has a significant appetite for buyout funds that invest in North American companies.
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