Searches and Hires

Los Angeles Fire & Police allocates $5 million to venture capital fund

Los Angeles Fire & Police Pension System committed $5 million to Innovation Endeavors III, a venture capital fund, according to a report for the $22.1 billion pension plan board.

The firm mainly invests in technology companies. It is a new relationship for the system.

The pension plan had a 9% allocation to private equity as of March 31; the target allocation is 12%.