Los Angeles Water and Power Employees Retirement Plan has approved a $100m (€84.7m) commitment each to Kayne Anderson and Vistria Group US open-ended real estate funds.
The pension fund disclosed in a board meeting document that it backed the open-ended Kayne Anderson Core Real Estate Fund with an $80m allocation from its Retirement Fund and $20m from the Retiree Health Benefits Fund. Los Angeles Water also placed $100m into the core-plus Vistria Housing Fund.
The Kayne Anderson Core Real Estate Fund, launched in August 2017, has a gross asset value of $4.6bn. Its portfolio currently consists of 70% medical offices, with the remaining 30% split between senior and student housing across the South, West and Midwest US.
According to people familiar with the matter, the fund currently has a $200m entry queue but no redemptions. Kayne Anderson declined to comment when contacted for this story.
According to a July 2025 SEC filing, Vistria Group has raised $1bn for its housing fund.
The strategy focuses on acquiring and renovating workforce housing assets that are subject to income restrictions, with current activity concentrated in markets such as Georgia, Houston, Illinois and San Jose.
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