Alfie Crooks

The pension, which has committed to three VC funds thisyear, will see its private equity pacing jump significantly next year, following several years of high distributions.

The pension fund will increase its pacing to the asset class for the first time in three years.

Venture firms that have received recent commitments include Costanoa Ventures, Eniac Ventures, General Catalyst Partners and Spark Capital.

CalPERS has committed to 69 PE funds with vintages of 2020 or 2021, including three venture vehicles managed by Goodwater Capital and Sierra Partners.

The pension plan reduced its combined buyouts and venture capital target to 19 percent from 20 percent, citing long-term liquidity goals and 'negative cashflows.'

The sovereign wealth fund will look toward more investments in venture capital funds, along with wider definitions of in-state impact, in an attempt to revamp the program.

ILPA’s senior leadership says members are sticking to their current portfolios and taking a long-term outlook on public market volatility.

Of the four private equity commitments the pension has made since 2019, two were for venture capital funds and one was for a growth equity vehicle.

A proposed increase of the size and scope of the existing US endowment tax will likely force many endowments to increase their commitments to private equity.

LA Fire and Police Pension is not alone in sudden concern for an acronym that has become a flashpoint of controversy in America’s culture wars.