LA Fire & Police Commits $382.2M to Seven PE, PC Funds

The Los Angeles Fire & Police Pension System made investments totalling $382.2M in six private equity funds and one private credit strategy. 

According to materials from its January 16 board meeting, the board approved motions committing to three growth funds – $50M to Bansk Fund II, $30M to GTCR Strategic Growth Fund II, and $75M to TPG Growth VI – and to three buyouts, specifically $75M to Court Square Capital Partners V, €46M (~$47.2M) to Rivean Capital Fund VII, and $75M to Trive Capital Fund V. Additionally, the pension made a $30M investment in Locust Point Private Credit Fund III. The deals were closed from November to December last year.

As of December 31, 2024, Los Angeles Fire & Police’s private equity portfolio accounts for 16.71% while private credit accounts for 0.38% of the pension’s $32.5B total plan assets.