Los Angeles Fire & Police votes to keep Brandes
Close-up on the insignia and slogan of a LAPD vehicle
The board of Los Angeles Fire & Police Pensions voted to stick with Brandes Investment Partners, which manages a $1.1 billion active international equity portfolio, through July 31, 2022, the end of its contract term.
It was not a renewal or extension of Brandes contract. Rather, the board s vote was to decide whether or not to keep Brandes until the end of its existing contract, said Tom Lopez, CIO in an email.
The board of the $29.6 billion voted May 6 to keep Brandes in light of a recent rebound in value strategies after a challenging decade, leading the firm to beat its benchmark.
Los Angeles Fire & Police commits up to $95 million to alternatives funds
Los Angeles Fire & Police commits up to $95 million to alternatives funds
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Los Angeles Fire & Police Pensions committed up to $95 million to two alternative investment funds and added up to $17.5 million to two funds in which it had previously invested, a staff report on closed session actions for the $28.7 billion pension plan shows.
Plan officials committed up to $80 million to RREEF Core Plus Industrial Fund, an open -end industrial fund managed by
DWS Group; and up to $15 million to Avance Investment Partners, a buyout fund managed by
Avance Investment Management.
Los Angeles Fire & Police on the lookout for private credit consultant
Los Angeles Fire & Police on the lookout for private credit consultant
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Los Angeles Fire & Police Pensions is searching for a non-discretionary private credit consultant to assist the board in the development of a newly created private credit portfolio.
The $28 billion pension fund has issued an RFP for a consultant following the creation last June of a new 2% private credit target allocation, Ray Ciranna, general manager, said in an email.
The portfolio will start with $300 million in commitments, which may increase in the future, and consist of 60% going into private credit funds and 40% to levered bank loans, according to the RFP posted on the pension fund s website.
One Rock Capital hits $2 billion hard cap with third buyout fund
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One Rock Capital Partners held a final close of its third middle-market buyout fund, One Rock Capital Partners III, at its $2 billion hard cap, a spokesman said in an email.
The latest fund is more than twice the size of its predecessor, the $964 million One Rock Capital Partners II.
One Rock makes control investments in companies in sectors, including manufacturing, chemicals, business services and auto retail.
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