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Los Angeles Fire & Police Pensions subscribes to Wolff Credit Fund III
Investors - JULY 29, 2021

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Los Angeles Fire & Police Pensions subscribes to Wolff Credit Fund III

by Kali Persall

A second Los Angeles–based pension fund has committed to Wolff Credit Fund III.

Wolff Credit Fund III, managed by the Wolff Co., is a closed-end, core-plus and value-add fund investing in multifamily debt in the United States. A recent board document shows that the Los Angeles Fire & Police Pensions (LAFPP) has approved a commitment of up to $35 million to the vehicle.

Wolff Credit Fund III opened to investors in September 2020 and attracted a $35 million commitment from Los Angeles (Calif.) City Employees’ Retirement System in June 2021.

The fund’s predecessor, Wolff Credit Fund II, followed the same investment strategy as Fund III and held its final close in 2017 with $417 million in equity commitments. The initial fund in the series closed in 2014 with $230 million in commitments.

The fundraising target for Wolff Credit Fund III could not be determined at the time of publication.

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