The Los Angeles Fire & Police Pension System has approved commitments totalling $382.2m across six private equity funds and one private credit fund, continuing its strategy of diversifying its $32.5bn portfolio, according to a report by Private Equity Insights.
These investments, finalised in November and December 2024, include a $155m allocation to growth-oriented private equity funds, comprising $50m for Bansk Fund II, $30m for GTCR Strategic Growth Fund II, and $75m for TPG Growth VI.
In the buyout space, the pension committed $197.2m, with $75m allocated to Court Square Capital Partners V, €46m (approximately $47.2m) to Rivean Capital Fund VII, and $75m to Trive Capital Fund V. Additionally, the board approved a $30m investment in Locust Point Private Credit Fund III.
As of 31 December, 2024, private equity accounts for 16.71% of the pension system’s total assets, while private credit represents 0.38%. These investments align with the pension system’s ongoing emphasis on alternative investments to drive long-term returns.