Searches and Hires

Los Angeles Water & Power Employees pours $160 million into private equity

Los Angeles Water & Power Employees' Retirement Plan approved two new private equity commitments totaling up to $160 million, said Jeremy Wolfson, chief investment officer, in an email.

The $12.1 billion pension fund committed $85 million to middle-market buyout fund Harvest Partners VIII and up to $75 million to Lexington Capital Partners IX, a secondary private equity fund of funds managed by Lexington Partners.

The pension fund previously committed $60 million to Harvest Partners VII in 2016 and $30 million to Lexington Capital Partners VII in 2009.

As of Nov. 30, the pension fund's private equity allocation was 4.6%; the target is 5%.