StepStone receives commitment from Los Angeles Fire & Police

The US public pension has backed Stepstone Secondaries IV which is seeking more than $1bn.

Institution: Los Angeles Fire & Police Pension System
Headquarters: Los Angeles, United States
AUM: $22.34bn
Allocation to alternatives: 23.18%
Bitesize: $10-50m

Los Angeles Fire & Police Pension System has committed $40 million to Stepstone Secondaries IV. The diversified fund will invest in private equity secondaries throughout North America.

As illustrated in the charts below, LAFPP has a strong appetite for North American private equity secondaries funds. Tom Lopez is the chief investment officer of the $22.34 billion pension.

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