Los Angeles Fire and Police Pensions (LAFPP) has expanded its infrastructure portfolio with two $100m (€86.2m) commitments to Blackstone and IFM Investors strategies.
The pension fund disclosed in a board meeting document that it has committed the capital to Blackstone Infrastructure Partners (BIP) and IFM Global Infrastructure.
According to sources familiar with the BIP, Blackstone has committed a 2.5% co-investment, up to $500m to the fund.
Currently, the BIP portfolio is 68.1% weighted toward North America, and 23.6% towards Europe.
Alameda County Employees’ Retirement Association also disclosed in its meeting agenda that it approved a $40m commitment to BIP, an open-ended fund, which invests in core and core-plus infrastructure globally.
Blackstone declined a request for comment.
According to an SEC filing last April, IFM Global Infrastructure manages $12bn in commitments.
The vehicle targets core infrastructure opportunities across the transportation, social, energy and telecommunications sectors.
LAFPP has also approved a $75m commitment to Blue Owl Capital’s latest net lease real estate fund.
As previously reported, the Blue Owl Real Estate Fund VII fund is seeking to raise $6.5bn to invest in the US and Canada.
Fund VII, which is expected to close this year, targets an 8% monthly annualised distribution yield, a yield the fund series has successfully delivered to investors since 2009.
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