The Los Angeles Water & Power Employees’ Retirement Plan has approved a five-year extension of its contract with StepStone Real Estate for real estate consulting services, according to meeting materials. The contract will be effective from April 1, 2026, to March 31, 2031.
As of Aug. 31, the pension fund’s real estate program market value was $1.9 billion for the retirement fund and $339 for the Retiree Health Benefits Fund, with $2.3 billion in aggregate, marking 9.9 percent of the total plan from a 10 percent target.
StepStone has been the real estate consultant for Los Angeles Water & Power since 2018.
