Institution: Los Angeles Fire & Police Pension System
Headquarters:Â Los Angeles, US
AUM: $29.9 billion
Allocation to private real estate: 6%
The Los Angeles Fire & Police Pension System has revealed a proposed real estate pacing plan from their real estate consultant Townsend Group.
The plan would aim to align LAFPP with its 7 percent target allocation to private real estate. Specifically, LAFPP would seek to target up to $65 million in commitments to their core real estate portfolio in 2024.
In regard to their non-core portfolio, the US public pension plan would target up to $225 million in commitments in 2024 if approved. This would be spread out over three to four new investments in the $50 million-$75 million commitment range per fund.
Alongside the discussion of the proposed real estate pacing plan for 2024, LAFPP also confirmed a $60 million commitment to Oaktree Real Estate Opportunities Fund IX.
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