Los Angeles Fire and Police Pensions (LAFPP) is planning to make $150m (€147.1m) worth of non-core real estate fund commitments in the current fiscal 2023 financial year.
According to a report by the $29bn pension fund’s real estate consultant The Townsend Group, the plan for the fiscal year beginning 1 July is to make commitments worth between $50m to $75m each into blind pool funds to capitalise on potential dislocation in the real estate market.
LAFPP is expected to target funds focused on multifamily or industrial assets as well as some niche investment opportunities including life science, data centres, single-family residential and real estate credit.
LAFPP plans to maintain its current mix and weighting of investments in the core and core-plus open-ended portfolio. In the 2022 fiscal year, the pension fund issued $100m worth of core commitments.
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