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Los Angeles Fire, Police allocates $95 million to private equity

Los Angeles Fire & Police Pension System officials committed up to $95 million to three private equity funds, according agenda materials for the $19.5 billion pension fund board's meeting this Thursday.

The pension fund committed up to $40 million each to BC European Capital X, a European buyout fund managed by BC Partners and Lone Star Fund X, a real estate credit fund managed by alternative investment manager Lone Star Funds.

The pension fund has invested in past BC Partners funds. This is the first commitment with Lone Star.

Separately, the plan made an additional commitment of up to $15 million to Gridiron Capital Fund III, bringing the pension fund's total commitment to $25 million.