Los Angeles Fire and Police Pensions (LAFPP) has approved a $100m (€88.3m) commitment to the GID Mainstay Fund, according to the pension fund’s meeting document.
According to people familiar with the fund, manager GID is in the process of raising initial capital from founding investors for the open-ended US core/core-plus apartment fund.
A source told IPE Real Assets that Oregon Public Employees Retirement Fund also made a $150m commitment to the fund.
GID and LAFPP did not respond to a request for comment.
LAFPP has also approved a new $20m commitment to the Principal US Core Property Account. The pension fund previously made an $80m commitment to the core open-ended fund.
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