LA Fire & Police Pension Commit $20M to Private Credit; Eliminate Emerging Markets Allocation

The Los Angeles Fire & Police Pension System has approved a $20 million commitment to the Charlesbank Credit Opportunities Fund III.

According to meeting materials from the August 17 board meeting, the $30 billion pension also approved eliminating the 5% allocation to emerging markets. 

As a result, the contracts with Dimensional Fund Advisors and Harding Loevner are pending termination.

As of July 31, 2023, DFA account had a market value of $888.4 million and the Harding Loevner account was valued at $463.3 million.

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