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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