Los Angeles Water & Power Employees' Retirement Plan committed $60 million to AG Europe Realty Fund III on behalf of its pension fund.
The $14.1 billion retirement plan disclosed the commitment to the European value-added real estate fund managed by Angelo, Gordon & Co. in May 20 board meeting materials.
As of March 31, the pension fund's actual allocation to real estate was 8%.
The plan also committed $15 million to AG Europe Realty Fund III on behalf of its retiree health benefit fund.
Jeremy Wolfson, chief investment officer, could not be immediately reached for further information.