Los Angeles Fire & Police Pensions committed up to $17.5 million to two alternative investment funds, according to a report from the $29 billion pension fund board.
The board in closed session committed up to $10 million to 3 Boomerang Capital I, a lower-middle market private equity fund focused on healthcare companies managed by 3 Boomerang Capital.
It also committed $10 million to Astira Capital Partners Fund I, a middle-market buyout fund investing in tech enabled services and software businesses. However, the manager, Astira Capital Partners, cut back LAFPP's commitment to $7.5 million because the fund was oversubscribed, the report said. Astira closed its inaugural fund Astira Capital Partners Fund I with $675 million on Oct. 16, according to a news release.