LAFPP approves $40m in commitments

The US public pension has backed two North America-focused funds.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $23.58bn
Allocation to alternatives: 23.26%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System committed $30 million to Vista Foundation Fund IV and $10 million to Material Impact Fund II. Vista’s fund will use capital raised to invest in technology companies throughout North America, while Material Impact’s second fund will focus on early-stage companies across diversified sectors.

The $23.58 billion US public pension has a 12 percent target allocation to private equity that currently stands at 10.76 percent.

As illustrated in the charts below, LAFPP currently devotes 23.26 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for North America-focused venture capital funds.

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