---
title: LA Water & Power Commits $187 Million to Private Credit and Real Estate
description: LA Water & Power Commits $187 Million to Private Credit and Real Estate.
---

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# [LA Water & Power Commits $187 Million to Private Credit and Real Estate](https://dakotafunds.com/dakota-funds/fundraising-news/la-water-power-commits-187-million-to-private-credit-and-real-estate)

 Written by [Koncheng Moua, Director of Data Management and Strategy](https://dakotafunds.com/dakota-funds/author/koncheng-moua-director-of-data-management-and-strategy) | September 06, 2022

The Los Angeles Water & Power Employees’ Retirement Plan has disclosed up to $187 million in commitments to three funds.

The Board approved a $42 million investment in opportunistic credit fund, Sixth Street TAO Partners. Also, within private credit $65 million was approved for VPC Asset Backed Opportunistic Credit Fund, managed by Victory Park Capital. The fund will lend “senior secured, highly collateralized asset backed loans to asset-rich companies that are in their early growth phase of business cycle”, according to meeting documents from the August 24 board meeting. 

FPA Core Plus Fund VI-A was approved for an up to $80 million commitment. The core-plus real estate fund will invest in multifamily and mixed-use real estate in major markets within the United States.

As of June 30, 2022, the Retirement Plan has an actual and target allocation to private equity of 12.6% and 10% respectively. 

The actual and target allocation to real estate was 8.9% and 8% respectively. 

*For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of [Dakota Marketplace](https://www.dakota.com/dakota-marketplace)!*

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