Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $24.95bn
Allocation to alternatives: 22.36%
Bitesize: $10-50m
Los Angeles Fire & Police Pension System committed $50 million to Exeter US Industrial Value Fund V and $35 million to NREP Nordic Strategies Fund IV. Both funds will use a value-add investment strategy, with Exeter Property Group using capital raised to invest in real estate throughout the United States, and NREP using its fourth Nordic fund to target retail and multifamily properties.
The $24.95 billion US public pension has a 10 percent target allocation to real estate that currently stands at 8.24 percent.
As illustrated in the charts below, LAFPP currently devotes 22.36 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for North America-based properties across diversified sectors.
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