Name: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, US
AUM: $15.5 billion
Allocation to real estate: 8.8%
The Los Angeles Water & Power Employees Retirement Plan has committed to two value-add real estate funds.
The US public pension fund allocated $75 million to AG Europe Realty Fund IV. The fund invests in a diversified portfolio of value-add real estate in Western Europe.
Another $75 million was committed to Longpoint III, a value-add fund which focuses on investments into industrial and retail real estate in North America. The fund is managed by Longpoint Realty Partners.
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