LA Fire & Police to consider global credit

The Board of the approximately $32 billion Los Angeles Fire & Police Pension System (LAFPP) will discuss creating a potential new public markets global credit mandate at its meeting this week, a plan official confirmed.

LAFPP approved an inaugural 2% (about $640 million) allocation to private credit in early October.

According to system documents, at the system’s November 18 meeting its staff and general consultant, RVK, recommended to the LAFPP Board that the system take 12.5% (approximately $445 million) of its total fixed income portfolio and redirect it to a public global credit . . .

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Mark Fortune

Mark Fortune has more than 30 years of experience as a financial writer and editor, with a focus on institutional investment management.  His wide-ranging background includes managing editorial teams and directing editorial operations of mid-sized publishing groups, leveraging print, online, digital, and social media, and programming and promoting conferences, workshops and roundtables. He has worked in various editorial roles at organizations that include Institutional Investor, Pageant Media, Markets Group and, most recently, at New York investment management firm Cohen & Steers.
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