Los Angeles Water & Power commits to value-add real estate

The US public pension has committed $150m across two funds.

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.

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