Los Angeles Fire & Police Pensions disclosed four new alternative fund commitments totaling up to $190 million in materials for its upcoming Jan. 19 board meeting.
The $26.9 billion pension fund disclosed commitments of up to $75 million to buyout fund GTCR XIV, up to $50 million to buyout fund Accel-KKR Capital Partners VII and up to $15 million to buyout fund New Heritage Capital Fund IV that the board approved in closed session at its Dec. 1 meeting.
Also, the pension fund disclosed that the board in closed session at its Nov. 17 meeting approved a commitment of $50 million to STG VII, a buyout fund managed by STG Partners.
All are existing manager relationships for the pension fund. LAFPP's previous commitments to the managers were up to $40 million to GTCR Fund XII in 2017, up to $25 million to Accel-KKR Capital Partners VI in 2019, up to $7.5 million to New Heritage Capital Fund III in 2019 and up to $40 million to STG VI.
As of Aug. 31, the pension fund's actual allocation to private equity was 16.9%; the target is 14%.
