The Los Angeles Fire & Police Pension Fund (LAFPP) has committed $40 million to Kayne Anderson Core Real Estate Fund (KACORE) and $60 million to Cerberus Institutional Real Estate Partners VI (CIREP VI).
KACORE is managed by Kayne Anderson and is an open-end fund that has raised more than $2.75 billion of committed capital, according to the IREI.Q database.
Focusing on core opportunities, KACORE seeks to make investments in alternative sectors, including medical office, senior housing, student housing and self-storage properties.
Managed by Cerberus Capital Management, CIREP VI is seeking to raise $3 billion and is investing in opportunistic opportunities around the globe, both in direct properties and in debt.
As of Jan. 31, 10.28 percent ($3.13 billion) of LAFPP’s $30.53 billion portfolio was allocated toward real estate investments, slightly above the pension fund’s 10 percent target allocation for the asse
