LAFPP approves $35m commitment to Wolff Credit Partners III

The US public pension committed capital to a senior real estate debt fund.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $30.42 billion
Allocation to private equity: 20.31%

Los Angeles Fire & Police Pension System committed $35 million to Wolff Credit Partners III, according to the pension’s July 2021 investment committee meeting agenda. Capital raised by the vehicle will be used to originate senior loans in residential properties across North America.

The $30.42 billion public pension has a 10 percent target allocation to private real estate that currently stands at 7.6 percent.

As illustrated in the charts below, LAFPP devotes 20.31 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for real estate funds that invest in properties throughout North America and Western Europe.

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