Los Angeles Water and Power Employees' Retirement Plan committed a total of $100 million to Clearlake Capital Partners VII for its defined benefit plan and retiree health plan.
The retirement plan committed $85 million to the private equity special situations and value fund managed by Clearlake Capital Group for its $17.2 billion DB plan and $15 million for the $3 billion health plan, said Jeremy Wolfson, chief investment officer.
As of Oct. 31, the DB plan's actual allocation to private equity was 9.6%.
