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LAFPP approves $15m commitment

The US public pension has backed a venture capital life sciences fund.

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Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $23.92bn
Allocation to alternatives: 23.01%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System committed $15 million to Longitude Venture Partners IV. The fund will invest in early stage life sciences companies throughout the United States.

The $23.92 billion US public pension has a 12 percent target allocation to private equity that currently stands at 10.16 percent.

As illustrated in the charts below, LAFPP devotes 23.01 percent of its portfolio to alternatives assets. The pension has a strong appetite for North American venture capital funds.

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