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The Los Angeles Water and Power Employees’ Retirement Plan has finalized commitments to private real estate and private equity funds.
Meeting materials from the July 13 board meeting disclose $75 million was committed to opportunistic real estate fund, Cerberus Institutional Real Estate Partners VI.
Private equity funds, Silver Lake Partners VII and Oak HC/FT Partners V, both received $75 million in commitments. Silver Lake focuses on technology sector buyouts. Oak HC/FT V will focus on early stage investments within the healthcare information and financial services technology sectors.
As of December 31, 2021, the $19 billion Retirement Plan targets 8% to real estate and 10% to private equity respectively. The Plan currently allocates 8.1% to real estate and 12.1% to private equity respectively.
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!
Written By: Koncheng Moua, Director of Data Management and Strategy
Koncheng Moua is the Director of Data Management and Strategy at Dakota.
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