Los Angeles Water and Power Employees' Retirement Plan disclosed two new commitments totaling $165 million for its $16.6 billion defined benefit plan.
The retirement plan committed $85 million to Ares Pathfinder Core Fund, an evergreen private credit fund managed by Ares Management; and $80 million to Mesa West Real Estate Income Fund V, a value-added real estate fund managed by Mesa West Capital, said Jeremy Wolfson, chief investment officer, in an email.
As of June 30, the pension plan's actual allocation to private equity was 8.1%.
The retirement plan's board also committed $15 million and $20 million, respectively, to the funds on behalf of its $2.9 billion health fund.
