Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, US
AUM: $14.25 billion
Allocation to alternatives: 11%
Los Angeles Water & Power Employees Retirement Plan has approved a $60 million commitment to Cerberus Institutional Real Estate Partners V, according to a document from the pension’s latest board meeting.
The $14.25 billion US public pension has an 8 percent target allocation to real estate that currently stands at 6 percent.
As illustrated in the charts below, LADWP has a strong appetite for funds that target debt and equity investments in properties throughout North America and Europe.
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