TLDR:
- Los Angeles Fire and Police Pensions added multiple managers across credit, buyout, and real estate programs
- The city pension allocated over $390 million in new mandates across these alternative asset classes
In a recent move, the $31 billion Los Angeles Fire and Police Pensions diversified their portfolio by adding multiple managers across three key alternative asset classes. The pension fund allocated over $390 million in new mandates, with three credit funds being selected. Private credit, a new portfolio for the city pension, is set to total 3% of assets.
The pension fund added managers such as Atalaya Capital Management, Centana Growth Partners, and KKR to their credit, buyout, and real estate programs. This strategic diversification is aimed at optimizing returns and managing risk in the pension’s investment portfolio. Furthermore, the addition of new managers in these alternative asset classes demonstrates the city’s commitment to exploring new investment opportunities and expanding their investment strategy.
Overall, the move by Los Angeles Fire and Police Pensions to build up their credit, buyout, and real estate programs signals a proactive approach to managing their investment portfolio and seeking out diverse investment opportunities in the alternative asset space.
