The Los Angeles Water and Power Employees’ Retirement Plan approved $60 million commitments to both LaSalle Asia Opportunity V and Torchlight Debt Opportunity Fund VI, Investment Officer Alexander Lee confirmed in an email.
According to Lee, $10 million of each investment will come from the pension fund’s Retiree Health Benefits Fund, with the remainder allocated from the main retirement plan.
The $11.1 billion US public pension has an 8% target allocation to private real estate that currently stands at 6%.
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