LPs

LA pension approves $60m in commitments to four VC funds

LAFPP focuses on North American funds.

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Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $30.42 billion
Allocation to private equity: 20.31%

Los Angeles Fire & Police Pension System committed $60 million across four venture vehicles, according to the pension’s July 2021 investment committee meeting agenda.

The commitments include:

  • $15 million to Renegade Partners Fund I
  • $15 million to Longitude Prime Fund
  • $15 million to Aldrich Capital Partners Fund II
  • $15 million to Work-Bench Ventures III

The $30.42 billion public pension has a 14 percent target allocation to private equity that currently stands at 12.71 percent.

As illustrated in the charts below, LAFPP devotes 20.31 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for diversified funds that are North America-focused.