Los Angeles Dept. of Water & Power approves $80m commitment to FPA Core Plus Fund VI

The Los Angeles Department of Water & Power Employees Retirement Plan has scheduled $80 million for FPA Core Plus Fund VI, a closed-end fund managed by FPA Multifamily.

The fund was launched in May with a fundraising target of $1 billion. FPA Core Plus Fund VI will make direct investments in core and core-plus multifamily and mixed-use real estate in major markets across the United States.

The fund’s predecessor, FPA Core Plus Fund V, closed in June 2020 with $970 million in equity commitments, exceeding its original target of $750 million. At the time of the close, Fund V was the firm’s largest fund to date. Fund V invests in multifamily properties in top-tier demographic neighborhoods in and around major metropolitan areas in the United States.

For more information about this commitment and others, visit the IREI.Q database