Los Angeles Water & Power Employees’ Retirement Plan committed $60 million to Vista Equity Partners Fund VI, a buyout fund that focuses on midmarket and large-cap software and technology firms, recently released board meeting minutes said.
The $9.5 billion pension fund previously committed $50 million to the private equity manager’s Fund V in 2014 and $25 million to Fund IV in 2011.
The retirement board also approved a $12 million commitment to the fund from the retiree health benefits fund.
Carlo Manjikian, senior investment officer, could not be immediately reached to provide further information.