The Los Angeles Water & Power Employees’ Retirement Plan has committed $150 million to two real estate funds.
$75 million was committed to Invesco U.S. Income Fund, a core-plus real estate fund, and another $75 million to a value-add real estate fund, DRA Growth & Income Fund XI.
As of November 2022, the nearly $19 billion pension fund allocates 9% to real estate while they target 8%.
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