LAFPP approves up to $65m in commitments

The US public pension has backed technology focused funds.

The board of the Los Angeles Fire & Police Pension System (LAFPP) in closed session approved commitments of up to $40 million to Vista Equity Partners VII and $25 million to TCV X. The two private equity funds will focus on making investments in North American technology companies.

The 20.6 billion US public pension has a 10 percent target allocation to private equity that currently stands at 8.66 percent.

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