The Los Angeles Fire & Police Pensions (LAFPP) has slated $125 million for two real estate funds.
The pension fund committed as much as $75 million to TPG Real Estate Partners IV and as much as $50 million to Asana Partners III, according to a recent board meeting commitment report.
TPG Real Estate Partners IV, an opportunistic fund managed by TPG Real Estate Partners (TREP), will implement a buy-and-build strategy, acquiring assets in inefficient and fragmented markets in the United States and Europe while improving operations at the company level.
A fundraising target for Fund IV was unknown at the time of publication. The fund’s predecessor, TPG Real Estate Partners III, closed in March 2019 with more than $3.7 billion of capital commitments.
Asana Partn
