The USD 12.6 billion public pension is set to approve, on 15th August, recommendations from consultant Portfolio Advisors to commit USD 900 million over the next three years to private equity funds. It expects to make 32 to 51 fund commitments in that period, half of which is earmarked for buyouts and a quarter each to venture and special situation funds.
Los Angeles Fire and Police Pension System has 6.5% of its total assets allocated to private equity, and has a target allocation of 10%. It is an active investor in private equity and typically commits between USD 15 million and USD 25 million to a fund. The public pension fund invests in a range of private equity funds with a global focus. Over the coming year the pension fund is likely to form new relationships with managers to achieve its investment targets.
More information on private equity investors can be obtained through Preqin’s online database Investor Intelligence.