Los Angeles Fire & Police Pension System made undisclosed capital commitments to three private equity funds, a pension plan report shows.
The $18.3 billion pension plan made commitments to NMS Fund II, managed by New MainStream Capital; Polaris Venture Partners VII, managed by Polaris Partners; and Garrison Opportunity Fund IV, managed by Garrison Investment Group. Further information was unavailable.
Separately, the pension plan reduced its return assumption to 7.5% from 7.75%, primarily due to a continued decline in inflation over the past two decades, a written statement said.
The assumption was last lowered in 2010 to 7.75% from 8%.