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Los Angeles Fire & Police allocates $47.5 million to private equity

Los Angeles Fire & Police Pension System officials committed up to $47.5 million to two private equity funds.

According agenda materials for the $19.3 billion pension fund board’s Jan. 19 meeting, pension fund officials in closed session committed up to $40 million to Platinum Equity Capital Partners IV, a buyout fund. The pension fund has invested with Platinum Equity in the past.

Separately, the board committed up to $7.5 million in Bain Capital Double Impact Fund, which will invest in companies that are solving critical social problems in areas including sustainability, health and wellness, and community building, according to Bain Capital’s website. The pension fund has invested in prior Bain Capital funds.