Los Angeles Water & Power Employees' Retirement Plan committed $60 million to Torchlight Debt Opportunity Fund VII.
The board of the $14.1 billion defined benefit plan approved the commitment to the real estate debt fund managed by Torchlight Investors at its May 20 meeting, according to a memo Linda P. Le, interim retirement plan manager, included in July 22 board meeting materials.
The plan has previously committed $60 million to Torchlight Debt Opportunity Fund VI, $24 million to Torchlight Debt Opportunity Fund V and $20 million to Torchlight Debt Opportunity Fund IV.
As of March 31, the pension fund's actual allocation to private equity was 6.4%.
Jeremy Wolfson, chief investment officer, could not be immediately reached for further information.
