Los Angeles Fire & Police Pension System committed up to $30 million to three alternative investment funds, according to online documents on the $24.5 billion pension fund's website.
The board committed up to $10 million each to Ulu Ventures Fund III, an early-stage information technology venture capital fund; Base 10 Partners II, an early-stage venture capital fund; and Centana Growth Partners II, a growth equity fund focused on the future of financial services managed by Centana Growth Partners. Base10 Partners is a new manager for the pension fund. The pension fund has invested with Ulu Ventures and Centana Growth Partners in the past.
Los Angeles Fire and Police has a 12% target allocation to private equity, and $2.5 billion total invested in private equity.
Separately, the $511 million formerly managed by international equity manager of Fisher Asset Management was invested with two of its current managers, a separate document on the pension fund's website shows. In November, pension fund officials transferred $270 million to Baillie Gifford, which managed $1 billion in a growth international equity portfolio and $241 million to BlackRock, which ran a $1.1 billion core passive international equity portfolio as of Nov. 30.
