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Los Angeles Fire & Police slates $10 million for venture capital fund

Los Angeles Fire & Police Pension System, in closed session, committed up to $10 million to Oak HC/FT Partners Fund II, a venture capital growth-equity fund managed by Oak Investment Partners, according to a report to the board for its May 18 meeting.

The fund is targeting $600 million to invest in companies in the health-care and financial-services sectors.

The pension fund has invested with Oak Investment Partners in the past.

Separately, the board at its May 18 meeting extended for three years the contracts of Los Angeles Capital Management & Equity Research for a $327 million domestic equity enhanced index portfolio and FIS Group for a $103 million manager of emerging managers international equity mandate, said Raymond P. Ciranna, general manager, in an email.

Los Angeles Capital's contract was set to expire July 31 and FIS Group's contract was set to expire June 30.