LADWP approves $250m in commitments

The US public pension has backed two diversified buyout funds targeting North America and Western Europe.

Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
AUM: $12.99bn
Allocation to alternatives: 24.98%
Bitesize: $50-100m

Los Angeles Water & Power Employees Retirement Plan committed $100 million to Platinum Equity Capital Partners V and $150 million to Adams Street Global Small Market Buyout Fund II. Capital raised by both funds will be used to invest in North American and Western European companies, with Adams Street allocating 75 percent of capital to North America and 25 percent of capital to Europe.

The $12.99 billion US public pension has an 8 percent (up from 5 percent) target allocation to private equity that currently stands at 5.43 percent.

As illustrated in the charts below, LADWP devotes 24.98 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for North American and European buyout funds.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.