Los Angeles Fire and Police Pensions (LAFPP) has committed $85 million total to two funds: Principal Data Center Growth & Income Fund and LBA Logistics Value Fund. These commitments were confirmed on Nov. 20, according to Board of Fire and Police Pension Commissioners’ meeting agenda.
Principal Data Center Growth and Income Fund, managed by Principal Asset Management, received $10 million. This fund is a closed-end, opportunistic fund, focused on investing in existing data centers across the United States. It has a fundraising target of $3 billion. LAFPP previously invested $40 million into this fund in January 2024.
LBA Logistics Value Fund X, managed by LBA Realty, received a $75 million commitment. This fund is a closed-end, core-plus, value-added fund focused on industrial and logistics properties in the United States. A fundraising target has not been disclosed. This fund is the 10th in the series, with LBA Logistics Value Fund IX closing at $1.4 billion in
