The Los Angeles Department of Water & Power Employees Retirement Plan (WPERP) has committed $75 million to Longpoint Fund IV, a program of Longpoint Partners.
This closed-end, value-added, domestic fund invests in urban logistics properties. A fundraising goal has not been determined. Longpoint Fund III, its predecessor, closed with $940 million of commitments, surpassing its initial target of $750 million.
As of Jan. 28, the public pension fund had $21.7 billion in total assets under management (AUM), with a 10 percent real estate allocation and $2 billion in total real estate assets.
