Los Angeles Fire & Police Pension System committed up to $45 million to three alternative investment funds, according to a report on the $22.7 billion pension fund's website.
Pension officials committed up to $25 million to Summit Partners Growth Equity Fund X, a domestic growth equity fund. Los Angeles Fire & Police Pension has invested with Summit Partners in the past, including Summit Partners Growth Equity Fund IX.
LAFPP officials also committed up to $15 million to venture capital growth fund Spark Capital Growth Fund III and up to $5 million to early stage venture capital fund Spark Capital VI, both managed by Spark Capital. The pension fund has invested in prior funds managed by Spark.