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LA Fire & Police makes $190m alts allocation

Los Angeles Fire & Police Pensions has committed an additional allocation totalling $190 million to four alternative investment funds, according to a report by Pensions & Investments Online.

Los Angeles Fire & Police Pensions has committed an additional allocation totalling $190 million to four alternative investment funds, according to a report by Pensions & Investments Online.

The report cites materials prepared ahead of a board meeting on 19 January as revealing the $26.9 billion pension fund’s new commitments of up to $75 million to buyout fund GTCR XIV, up to $50 million to buyout fund Accel-KKR Capital Partners VII, and up to $15 million to buyout fund New Heritage Capital Fund IV. All three allocations were approved by the fund’s board on 1 December.

On 17 November, the board also approved a commitment of $50 million to STG VII, a buyout fund managed by STG Partners.

As of 31 August, the pension fund’s actual allocation to private equity was 16.9%, above its target of 14%.

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