Los Angeles Fire & Police eyes up to $950 million in private equity commitments
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Los Angeles Fire & Police Pensions plans to commit $700 million to $950 million to private equity in 2021, the $27.8 billion pension plan s private equity strategic plan update shows.
LAFPP committed $734.2 million to private equity in 2020.
The plan had about $3 billion in private equity as of Sept. 30, representing 12.1% of the total plan. Los Angeles Fire & Police Pensions target private equity allocation is 14%.
In the first nine months of 2020, the pension plan s private equity allocation had a net negative cash flow of $105 million for the first time since 2011, when it had a net negative cash flow of $62 million. Net negative cash flows means that the pension plan made more contributions than it received back from its general partners in distributions.
Wind Point Partners raises $1.5bn for Fund IX Wednesday, February 17, 2021
Laxman Pai, Opalesque Asia:
The Chicago private equity firm Wind Point Partners closed its latest middle-market buyout fund, Wind Point Partners IX, at $1.5 billion in total commitments, including commitments from the General Partner and affiliates.
The fund targets investments in middle-market companies within the business services, consumer products, and industrial products sectors.
The Fund IX investor base includes a diverse set of leading institutional investors in North America, Europe, and Australia, spanning public and corporate pension plans, insurance companies, family offices, and endowments and foundations. Investors include the $25.3 billion Los Angeles Fire & Police Pensions.
Asset owners turn to private credit in quest for returns
Top funds nearly double their allocations to asset class despite high risk potential
Nimisha Srivastava said manager selection will be very important to earning the desperately needed yield.
U.S. institutional investors are betting big that private credit will provide much-needed yield and an illiquidity premium to public debt, with assets nearly doubling in the year ended Sept. 30.
Private credit assets of the largest 200 U.S. retirement plans nearly doubled, up 93.1% to $50.2 billion in the year ended Sept. 30. It is also a 212% increase from 2018, when
Pensions & Investments first included private credit in its annual survey of the largest retirement plans.