The Los Angeles Water and Power Employees’ Retirement Plan has made a $75m (€69.4m) commitment to a US industrial real estate fund managed by Longpoint.
The pension fund disclosed in a board meeting document that the commitment to Longpoint Fund IV consists of $65m from the main retirement plan and $10m from the Retiree Health Benefits Fund.
According to an SEC filing by the manager, capital commitments for Fund IV reached $494m through January of this year, though an official fundraising target has not been publicly disclosed.
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