LAFPP approves $100m in commitments

The US public pension has backed five venture capital and corporate private equity funds.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $22.34bn
Allocation to alternatives: 23.18%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System has committed $50 million to Platinum Equity Capital Partners V, $5 million to FPC Small Cap Partners II, $5 million to Equal Ventures I, $20 million to New Enterprise Associates 17 and $20 million to Polaris Partners IX. The funds will invest in diversified sectors throughout North America and Western Europe.

The $22.34 billion US public pension has a 12% target allocation to private equity that currently stands at 10.26%.

As illustrated in the charts below, LAFPP allocates 23.18% to alternative assets. The pension has made several commitments to private equity funds in 2019, particularly to North America-focused venture capital funds that invest in technology.

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