LADWP approves $60m commitment

The US public pension has backed a distressed real estate debt fund.

Institution: Los Angeles Water & Power Employees Retirement Plan
Headquarters: Los Angeles, United States
AUM: $14.25 billion
Allocation to alternatives: 11%

Los Angeles Water & Power Employees Retirement Plan has approved a $60 million commitment to Cerberus Institutional Real Estate Partners V, according to a document from the pension’s latest board meeting.

As illustrated in the charts below, LADWP has a strong appetite for distressed and senior debt funds that target investments in properties throughout North America and Europe.

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