LAFPP approves $92.5m in commitments

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

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $24.95bn
Allocation to alternatives: 22.36%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System committed $15 million to Appian Natural Resources Fund II, $50 million to Clearlake Capital Partners VI, $20 million to Acrew Capital Fund I and $7.50 million to Canvas Ventures 3. Capital raised by three of the four funds will be used to invest exclusively in North American companies, with Appian Capital Advisory using its vehicle to invest in companies throughout North America, Latin America and the Middle East within the natural resources industry.

The $24.95 billion US public pension has a 12 percent target allocation to private equity that currently stands at 9.93 percent.

As illustrated in the charts below, LAFPP devotes 22.36 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for funds that target North America across diversified sectors.

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