LAFPP approves $40m commitment

The US public pension has backed a distressed corporate debt fund.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $23.92bn
Allocation to alternatives: 23.01%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System committed $40 million to BDCM Opportunity Fund V. Managed by Black Diamond Capital Management, the fund will be used to acquire distressed debt throughout North America.

As illustrated in the charts below, the $23.92 billion US public pension has a strong appetite for both corporate and real estate debt funds across North America. Mr. Tom Lopez is the current Chief Investment Officer.

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