The Los Angeles Fire & Police Pension System allocated a total of $238M across five funds in private equity, private credit, and real estate.
Per recently published materials related to its November 21 board meeting, the pension approved a $60M investment in Summit Partners Growth Equity Fund XII in July and an additional $15M in October, for an aggregate amount of $75M in closed investment. Oversubscribed middle-market buyout Accel-KKR Strategic Capital also received a $48M commitment from the pension on October 17.
Additionally, the pension made investments in real estate funds LBA Logistics Value Fund X, which received a $75M commitment, and Principal Data Center Growth & Income Fund, which received a follow-on investment of $10M. Lastly, the pension committed $30M to private credit strategy Carlyle Credit Opportunities Fund III in a deal that closed on October 15.
The LA Fire & Police Pension System oversees plan assets of approximately $31.4B, according to the most recent Dakota data. As of June 30, the pension said its private equity portfolio is composed of $9.3B in commitments across 541 core and specialized manager funds, of which 399 are active.
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