LAFPP approves $70m in commitments

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

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $23.35 billion
Allocation to alternatives: 23.04%

Los Angeles Fire & Police Pension System has confirmed $70 million-worth of private equity commitments to two vehicles, according to a document from its July board meeting.

The commitments comprise of $60 million to Silver Lake Partners VI and $10 million to Summit Partners Venture V-A.

The $23.35 billion US public pension has a 12 percent target allocation to private equity that currently stands at 10.71 percent.

As illustrated in the charts below, LAFPP devotes 23.04 percent of its full investment portfolio to alternative assets.

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