LAFPP commits $193m to alternatives funds


The Los Angeles Fire & Police Pension System has set aside $193m of capital commitments for a number of alternative asset funds.

Exeter Property Group’s real estate fund, Exeter Industrial Value Fund V has received a $50m commitment from the pension fund, according to documents from a recent board meeting.

Fund V is focused on warehouse and light industrial properties located primarily in the United States.

Exeter is said to be targeting $1.6bn for the fund, according to a report by IPE.

Buyout fund Clearlake Capital Partners VI also secured a $50m commitment from LAFPP.

Reports began emerging late last year of a new Clearlake Capital fund, said to be targeting up to $7bn according to a report from Buyouts.

The LA-based pension system has committed $35m to NREP Nordic Strategies Fund IV, whilst Acrew Capital’s debut venture capital fund received a $20m commitment

The Californian VC closed Fund I on $250m in December last year, after targeting between $175m and $200m.

The investment board also approved a $15m commitment to mining-focused private equity fund, Appian Natural Resources Fund II, managed by Appian Capital Advisory.

The LA fire and police pension pitched in $15m for Ecosystem Investment Partners IV.

Early stage venture capital fund, Canvas Ventures 3 also received $7.5m from the pension fund.

Canvas Ventures is looking to raise $300m for Fund III, according to an SEC filing from December 2019.

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