LAFPP approves $27.5m in commitments

The US public pension has backed three diversified private equity vehicles.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $21.32bn
Allocation to alternatives: 25.48%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System committed $10 million to Greycroft Growth III, $10 million to Gridiron Capital Fund IV (in addition to prior commitment of $40 million) and $7.50 million to Imaginary Venture Capital Partners II. Capital raised by the funds will be used to invest in diversified sectors throughout North America and Europe, with Greycroft’s third vehicle targeting regions across the globe.

The $21.32 billion public pension has a 12 percent target allocation to private equity that currently stands at 12.54 percent.

As illustrated in the charts below, LAFPP devotes 25.48 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for North America-focused venture capital funds.

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