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Sign in Sign up for a FREE subscriptionLAFPP commits up to $75m to two real estate funds
The $22.4 billion Los Angeles Fire & Police Pensions (LAFPP) has committed a total of $75 million to two real estate funds, according to board meeting documents.
The pension fund approved a commitment of up to $40 million to Lone Star Fund XI. The opportunistic fund, managed by Lone Star Funds, will invest in distressed debt secured by properties in the United States, Europe and Japan. According to a filing with the SEC, the fund is seeking to raise $6 billion in equity.
This was not LAFPP’s first investment into the Lone Star fund series. In 2016, the pension fund committed $40 million to the fund’s predecessor, Lone Star Fund X.
LAFPP also approved a commitment of up to $35 million to Asana Partners Fund II, managed by Asana Partners. It is a value-added real estate fund. Through its funds, the firm invests in distinctive retail properties in dy
