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LAFPP approves $62.5m in commitments

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

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Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $22.34bn
Allocation to alternatives: 23.18%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System has committed $25 million to Accel-KKR Capital Partners VI, $30 million to Advent International GPE IX and $7.5 million to Fika Ventures II. The funds will use committed capital to invest in several sectors including financial services, consumer goods and technology.

The $22.34 billion public pension has a 12% target allocation to private equity that currently stands at 10.26%, up from May’s allocation of 9.63%.

As illustrated in the charts below, LAFPP allocates 23.18% to alternative assets. The pension has a strong appetite for North American funds.

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