LADWP approves $60m commitment

The US public pension has backed Longpoint Realty Partners' latest private real estate vehicle.

Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angles, United States
Total AUM: $16.70 billion
Allocation to alternatives: 14%

Los Angeles Water & Power Employees Retirement Plan has approved a $60 million commitment to Longpoint Realty Fund II, a contact at the pension confirmed to PERE.

The fund’s predecessor, Longpoint Realty Fund I, held a final close at $280 million in October 2018, which was under its $375 million target.

As illustrated below, LADWP allocates 8 percent of its full investment portfolio to private real estate. The pension’s recent commitments to private real estate have been to mostly North American vehicles.

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