Los Angeles Fire & Police Pension Plan committed $10 million to Stripes Group’s private equity fund Stripes Growth III, said Ray Ciranna, general manager of the $18.75 billion pension plan.
The pension fund previously invested in Stripes Growth II.
Separately, pension officials launched a shortlist search for an enhanced index commodity manager, said Tom Lopez, chief investment officer, in an e-mail response to questions.
The selected firm could manage as much as $185 million.
The pension fund has a 5% allocation to commodities and 20% of that is allocated to enhanced index commodities strategies. A selection could be made as early as December.
General investment consultant RVK is assisting.