LAFPP to invest in industrial and multifamily assets in 2020

The $23.17 billion Los Angeles Fire & Police Pensions (LAFPP) is planning to funnel approximately $130 million into the industrial and multifamily real estate sectors next year, in a move to restructure its open-end core portfolio.

The pension fund could not be reached to comment on its investment efforts.

LAFPP is also planning to add to its existing investments in the Lion Industrial Trust, which seeks to own, develop, manage and strategically sell industrial warehouse properties and land in 25 U.S. markets, while providing investors with above-benchmark returns.

The pension fund will also commit $70 million in total to two noncore apartment and industrial funds either focusing on the West Coast or markets outside of the United States.

LAFPP has an allocation to real estate of 8.45 percent, representing $1.9 billion in investments.