LADWP approves $190m in commitments

The US public pension has backed two North American private equity funds.

Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
AUM: $13.00bn
Allocation to alternatives: 21.95%

The Los Angeles Water & Power Employees Retirement Plan (LADWP) announced in its 23 January board meeting commitments of $90 million to Lexington Capital Partners IX and $100 million to Harvest Partners VIII, according to a contact at the pension.

The $13 billion public pension system has an 8% target allocation to private equity that currently stands at 3%.

As illustrated in the charts below, LADWP has committed capital to funds which invest in various sectors throughout the world. It is the first round of commitments that the pension has announced in 2019.

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