Los Angeles Fire & Police Pension commits $382.2m to private equity and credit funds

The Los Angeles Fire & Police Pension System approved $382.2m in commitments across six private equity funds and one private credit fund.

These investments, finalised between November and December 2024, reflect the pension’s continued focus on diversifying its $32.5bn portfolio.

The pension committed $155m to growth-focused private equity funds, including $50m to Bansk Fund II, $30m to GTCR Strategic Growth Fund II, and $75m to TPG Growth VI.

In the buyout category, $197.2m was allocated, comprising $75m to Court Square Capital Partners V, €46m (~$47.2m) to Rivean Capital Fund VII, and $75m to Trive Capital Fund V. Additionally, the board approved a $30m investment in Locust Point Private Credit Fund III.

As of December 31, 2024, private equity accounts for 16.71% of the pension’s total assets, while private credit represents 0.38%. These allocations underscore the pension system’s strategic focus on alternative investments to drive long-term returns.

Source: Dakota

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