LADWP approves $75m commitment

The US public pension has backed a diversified value-add fund.

Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
AUM: $12.99bn
Allocation to alternatives: 24.98%
Bitesize: $50-100m

Los Angeles Water & Power Employees Retirement Plan committed $75 million to DRA Growth and Income Fund X. Capital raised by the fund will be used to make value-add investments throughout the United States across diversified sectors.

The $12.99 billion US public pension has an 8 percent (up from 6 percent) target allocation to real estate that currently stands at 6.95 percent.

As illustrated in the charts below, LADWP devotes 24.98 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for funds that target investments in North America.

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