Los Angeles Water & Power Commits Up To $275M to Private Equity, Credit

The Los Angeles Water & Power Employees’ Retirement Plan has committed up to $275 million to four private funds. 

Up to $50 million was allocated to BlackRock Global Credit Opportunities II. 

In private equity, up to $75 million was allocated to the buyout fund, Platinum Equity Capital Partners VI. Up to $75 million was allocated to the buyout fund, Apollo Investment Fund X. Lastly, up to $75 million was allocated to the buyout fund, Clayton, Dubilier, & Rice XII. 

As of January 31, 2023, the Retirement Plan has a target allocation of 10% to private equity and 1% to private credit. 

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