Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
AUM: $14.66bn
Allocation to alternatives: 21.95%
Los Angeles Water & Power Employees Retirement Plan has committed $75 million to Westbrook Real Estate Partners XI. The Value-add fund will use capital raised to invest in diversified properties throughout the United States, Europe and Japan.
The $14.66 billion public pension has an 8 percent target allocation to real estate that currently stands at 6 percent.
As illustrated in the charts below, LADWP allocates 21.95 percent to alternative assets. The pension has a significant appetite for North American real estate funds.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.
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