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  2. ALTERNATIVES
January 08, 2014 12:00 AM

Houston Police Officers' Pension System collars 7 alternatives funds

Kevin Olsen
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    Houston Police Officers' Pension System committed up to $185 million total to seven alternatives funds over the last three months of 2013, according to recently obtained minutes of the board meetings.

    The $3.8 billion pension fund committed up to $40 million to Lone Star Real Estate Fund III, a distressed commercial real estate debt and equity fund managed by Lone Star Funds.

    The plan also committed up to $25 million each to Torchlight Debt Opportunity Fund IV, an opportunistic real estate debt fund managed by Torchlight Investors; Odyssey Investment Partners Fund V, a middle-market buyout fund; LS Power Equity Partners III, a private equity fund managed by LS Power Equity Advisors that invests in operating power plants; Atlas Capital Resources II, a turnaround private equity fund managed by Atlas Holdings; and Strategic Partners Fund VI, a secondary private equity fund of funds. Blackstone acquired Strategic Partners from Credit Suisse last year.

    Also, the pension fund committed $20 million to Apollo Investment Fund VIII, a buyout fund managed by Apollo Global Management.

    The pension fund had an actual 45.6% allocation to alternatives and 49.25% target as of Nov. 30.

    Related Articles
    Houston police pension system rounds up 3 alternatives funds
    U.S. equity, credit boost public pension plan returns
    Odyssey Investment closes 5th fund, targets middle-market private equity
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    December 12, 2022 page one

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