Los Angeles Fire & Police Pension System committed up to $50 million to two private equity funds, according to online documents on the $24.2 billion pension fund's website.
Pension fund officials committed up to $30 million to buyout fund Green Equity Investors VIII and up to $20 million to Jade Equity Investors, both managed by Leonard Green & Partners. Los Angeles Fire & Police has invested with Leonard Green in the past.
Jade Equity Investors is a new strategy for Leonard Green. It is a North American-focused middle-market fund with a $2 billion target that would invest in transactions of $50 million to $250 million in companies with enterprise values of $150 million to $600 million, according to information from the $139.6 billion Washington State Investment Board, Olympia, which made a $200 million commitment to the fund in September.
Green Equity Investors funds invest in larger companies. Green Equity Investors VIII aims to invest $250 million to $750 million per transaction.
