The Los Angeles Department of Water & Power Employees’ Retirement Plan has approved commitments to Almanac Realty Securities IX.
Almanac Realty Securities IX is a closed-end, value-add real estate fund, focused on making private placements of debt, preferred equity and equity capital, to companies that are active in the ownership, management and enhancement of real estate and real estate–related assets in North America.
Almanac intends to primarily target growth capital investments in experienced, mid-sized owners and operators of real estate in companies located in the United States, with up to 15 percent invested in non-U.S. portfolio companies, according to a pension fund meeting document.
The investments will consist of $60 million from the Retirement Fund and up to $15 million from the Retiree Health Benefits Fund.
Los An
