Los Angeles Fire and Police Pensions is investing in US real estate through funds managed by LBA Realty and Principal Real Estate Investors, respectively, focusing on industrial and data centre properties.
The pension fund disclosed in a meeting document that it had made a $75m (€71m) commitment to LBA Logistics Value Fund X, a fund primarily focused on existing industrial assets with potential for future value creation.
Fundraising details for Fund X are currently unknown.
LA Fire and Police also made a $10m commitment to the Principal Data Center Growth & Income Fund, marking its second investment in the fund in 2024.
In January, the pension fund approved a $40m commitment to the fund.
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