LAFPP approves $35m commitment

The US public pension has backed a Kayne Anderson real estate fund.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $21.32bn
Allocation to alternatives: 23.66%
Bitesize: $10-50m

The Los Angeles Fire & Police Pension System has committed $35 million to Kayne Anerson Core Real Estate fund. The open-ended vehicle will use capital raised to invest in student housing, multifamily, industrial and healthcare real estate throughout North America.

The $21.32 billion public pension has a 10% target allocation to real estate that currently stands at 8.79%.

As illustrated in the charts below, LAFPP has made several commitments to North American real estate funds in recent years. The pension has a global appetite for multiple fund strategies, especially funds with core, opportunity and value-add strategies.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.