Los Angeles Fire & Police Pensions committed up to $120 million to five alternative investment managers, the $25.3 billion pension fund reported.
The board in closed session committed up to $40 million to STG VI, a private equity fund managed by Symphony Technology Group. It also committed up to $30 million each to global opportunistic real estate fund Cerberus Institutional Real Estate Partners V, managed by Cerberus Capital Management, and Wind Point Partners IX, a middle-market buyout fund.
In venture capital, LAFPP committed up to $10 million each to 645 Ventures III, which makes seed and series A investments, and Reach III, a fund that invests in education-related companies and is managed by Reach Capital.
Pension fund officials have invested with Wind Point in the past but the rest are new relationships.