Los Angeles Fire & Police Pension System's board committed up to $75 million to two private equity funds, according to a report for Thursday's board meeting.
The pension fund committed up to $40 million to Lone Star Fund XI, a private debt fund managed by Lone Star Funds. Los Angeles Fire & Police has invested with Lone Star Funds in the past, including an up to $40 million commitment to Lone Star Fund X in 2016.
The pension fund also committed up to $35 million to Asana Partners II, value-added U.S. real estate fund. This is a new relationship for the pension fund.