Searches and Hires

Los Angeles Fire & Police commits $50 million to private equity

Los Angeles Fire & Police Pension System committed up to $50 million to two private equity funds, according to a report for the board of the $22.3 billion pension plan.

Pension fund officials committed up to $40 million to American Securities Partners VIII. The fund invests $200 million to $600 million in management buyouts of companies with $200 million to $2 billion of revenues and/or $50 million to $250 million of earnings before interest, depreciation and amortization. The pension fund has invested with American Securities in the past, including a $25 million commitment to American Securities Partners VI.

The pension fund also committed up to $10 million to health-care-focused growth equity fund 1315 Capital II. Los Angeles Fire & Police committed $5 million to the firm's first fund in 2015.