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FUNDRAISING NEWS | February 13, 2024

LA Police & Fire Commits $135 million to Alts

Tags: Pension Funds, Alternative Insights, Real Estate, Private Credit, Private Equity

According to meeting materials for the February 15, 2024 board meeting, the Los Angeles Police & Fire Pension System has approved four commitments to private equity, real estate, and private credit. 

In private equity, it is noted that the board approved the commitment of up to a total of $15 million to TELEO Capital II, L.P. The investment closed on January 31, 2024. 

It is reported that the board approved two commitments to real estate at their November 16, 2023 board meeting. $40 million was allocated to Kayne Anderson Core Real Estate Fund. The investment closed on January 1, 2024.

Also in real estate, $60 million was allocated to Cerberus Institutional Real Estate Partners VI, L.P. The investment closed on January 31, 2024.

Lastly, in private credit, $20 million was allocated to Atlantic Park Strategic Capital Fund II at the December 21, 2023 board meeting. The investment closed on January 31, 2024.

As of January 31, 2024, the $29.37 billion Pension Fund currently allocates 17.06% to private equity with a target of 15%. 10.44% is allocated to real estate with a target allocation of 10%. Additionally, 0.01% is currently allocated to private credit with a target of 3%.

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!New call-to-action

Written By: Jane Bailey, Marketing Associate

Jane Bailey is a Marketing Associate at Dakota.

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