LAFPP approves $45m in commitments

The US pension has backed three North American venture capital funds.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $22.00bn
Allocation to alternatives: 23.66%

Los Angeles Fire & Police Pension System has committed $25 million to Summit Partners Growth Equity Fund X, $5 million to Spark Capital VI and $15 million to Spark Capital Growth Fund III. All three vehicles will invest in early-stage companies within diversified industries throughout North America.

The US public pension has a 12% target allocation to private equity that currently stands at 10.50%.

As illustrated in the charts below, LAFPP currently allocates 23.66% to alternative assets. The pension has made several commitments to North American funds in 2019.

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