Los Angeles Water and Power Employees’ Retirement Plan has backed DRA Growth and Income Fund X, a value-add fund managed by DRA Advisors, according to a December board meeting document.
Los Angeles committed an investment of up to $60 million from its Retirement Fund and $15 million on behalf of its Retiree Health Benefits Fund (RHBF).
The Los Angeles pension funds had previously committed to DRA’s seventh, eighth and ninth funds in the fund series in recent years, according to the meeting document.
DRA Growth and Income Fund X will invest in a diversified portfolio of real estate in the United States, including office, industrial, multifamily and retail properties in primary and secondary markets. As of October, the fund had raised $1.2 billion fr
