Los Angeles Fire & Police Pension System committed a total of $42.5 million to two alternative investment funds, according to a report on the $21.3 billion pension fund's website.
Pension fund officials committed up to $35 million to Kayne Anderson's new open-ended real estate fund, Kayne Anderson Core Real Estate Fund, and $7.5 million to New Heritage Capital Fund III, a private equity fund investing in founder-led companies managed by New Heritage Capital.
Los Angeles Fire & Police has invested with Kayne Anderson in the past. New Heritage is a new relationship.
