LA Water & Power Commits $550M to Private Equity, Real Estate

The Los Angeles Water & Power Employees’ Retirement Plan has disclosed six alternative investments totaling up to $550 million.

In private equity, $150 million was committed to Adams Street Global SMB WPERP Fund III. $100 million was committed to Genstar Capital XI, a buyout fund. $75 million was allocated to Industry Ventures Secondary X, a private equity secondaries strategy. $75 million was committed to Trivest Recognition Fund, a buyout fund managed by Trivest Partners. $75 million was committed to Searchlight Capital IV.

In addition, $75 million was invested in Rialto Real Estate Fund V-Debt, an opportunistic fund which will invest in high yield real estate credit investments.

As of May 31, 2023, the $18 billion Retirement Plan has an actual and target allocation to private equity of 13.4% and 10% respectively. The actual and target allocation to real estate was 9.3% and 10% respectively.

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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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