Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
Allocation to alternatives: 23.06%
Los Angeles Fire & Police Pension System committed $5 million to Estancia Capital Partners Fund II, $7.5 million to Resolve Growth Partners Fund I, $7.5 million to Pear Ventures III and $10 million to Sunstone Partners II. The funds will invest in North American companies, with all but Estancia Capital Partners Fund II investing in technology startups.
The $23.71 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 currently allocates 23.06 percent to alternative assets. The pension has a strong appetite for funds that invest in early stage technology companies throughout North America.