FUNDRAISING NEWS | August 28, 2024
The Los Angeles Water and Power Employees’ Retirement Plan (LA WPERP) approved new target allocation adjustments, increasing private equity and credit allocations at the expense of global equity and fixed income, according to materials from the August 14 board meeting.
LA WPERP increased its target allocation to 5.0% from 2.4% for private credit and to 12% from 10% for private equity. Offsetting those increases, the board agreed to reduce the target allocation for global equity to 42% from 45% and for fixed income to 20% from 21.6%.
RVK assisted with the recommendations, saying it expects the shift to improve returns and thereby lessen the impact of drawdowns. The target allocation of the remaining exposures were unchanged, with a target of 10% to real estate, 5% to real returns, 5% to hedge funds, and 1% to cash.
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Helen Bascom is a Marketing Associate at Dakota.
