LAFPP approves $5 million commitment

The $20.6bn US public pension invests in an early-stage IT venture fund.

The Los Angeles Fire and Police Pension System (LAFPP) approved a $5 million commitment to Ulu Ventures II, according to documents from the pension fund’s board meeting this month.

The $20.6 billion US public pension has a 10 percent target allocation to private equity that currently stands at 9.1 percent. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.