Los Angeles Fire & Police Pension System committed up to $25 million to two private equity funds managed by Summit Partners, agenda documents for the $19 billion pension fund reveal.
The board committed up to $20 million to Summit Partners Growth Equity Fund IX-A and up to $5 million to Summit Partners Venture Capital Fund IV-A. Both commitments were made in closed session and were completed Aug. 26.
The pension fund has invested with Summit Partners in the past, including a $5 million commitment to Summit Partners Private Equity Fund VII.
