Los Angeles Fire and Police Pensions has approved two new commitments for its infrastructure and real estate asset classes totaling $156.9m (€132m), according to documents filed by the pension fund.
The infrastructure commitment was $80m into the Macquarie Green Energy and Climate Opportunities Fund.
The open-ended fund managed by Macquarie invests in solar, wind and energy storage on a global basis.
The new real estate commitment was €65.5m into the EQT Exeter Europe Logistic Value Fund V.
LA Fire and Police has also established investment plans for the 2026 fiscal year for both infrastructure and real estate, the pension fund said in board meeting documents.
The plan for infrastructure totals $270m, including up to $150m in strategic/core investments for assets with stable cash flows. The pension fund will consider open-ended or new fund launches.
The other $120m is for tactical/non-core investments with demonstrated managers that can drive growth through operational improvement. Target sectors are energy transition and digital infrastructure.
The amount planned for real estate is up to $500m, including up to $150m for core/core-plus funds. The pension fund will selectively consider thematic opportunities that are complementary.
The non-core target is up to $350m with a focus on niche sectors, such as data centres, build-to-rent, cold storage, manufactured housing, and industrial outdoor storage.
The pension fund will also continue to invest in favourable sectors with long-term growth potential such as residential and industrial.
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