L
LP profile
LAFPP
Pension fund · Founded 1899 · Los Angeles, United States
245
VC firms backed
$30B
AUM
~$600M
Allocated to VC (est. 2%)
01 · Background
Who LAFPP is.
- Historical Background
- The Los Angeles Fire and Police Pensions (LAFPP) was established on June 7, 1899, to manage and administer the retirement and death benefits for the city's firefighters, police officers, and their beneficiaries. Over its history, the fund has grown substantially, with total assets increasing from $18 billion to $30 billion under the previous Chief Investment Officer.
- Source of Capital
- LAFPP's capital is derived from contributions made by its members—the active firefighters and police officers of the City of Los Angeles—and from the City itself. These funds are managed to provide defined benefit retirement plans for over 12,571 active members and 14,131 retirees and beneficiaries.
- Major Events
- The fund recently eliminated its dedicated 5% target allocation to emerging markets equity, redirecting that capital towards international developed equity markets. In 2024, the board approved a new 2% target allocation to the infrastructure asset class, initiating the program with a $500 million pacing plan for 2025.
- Allocation Strategy
- LAFPP allocates capital across a diversified range of asset classes, including public equity, fixed income, private equity, real estate, and private infrastructure. The fund has specific target allocations, such as reducing its Real Estate Investment Trusts (REITs) target to 1.5% while increasing its private real estate holdings. As of early 2025, the fund allocated over $230 million to private equity and credit strategies, including a $25 million add-on to TPG Growth VI.
02 · Fund commitments
The funds LAFPP backs.
LAFPP is a limited partner in 245 funds. 30 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
New Enterprise Associates
#8 Power Law
Insight Partners
#23 Power Law
Spark Capital
#51 Power Law
Fidelity Investments
#52 Power Law
Atlas Venture
#53 Power Law
TCV
#67 Power Law
Greycroft Partners
#76 Power Law
IVP
#84 Power Law
Canaan
#103 Power Law
Threshold Ventures
#115 Power Law
Baillie Gifford
#126 Power Law
Mayfield
#134 Power Law
Innovation Endeavors
#146 Power Law
Alcuin Capital Partners
Apax Partners
Appian Capital
Astorg
Baring Private Equity Asia
BC Partners
Bridgepoint
Candover Partners
Charterhouse Capital Partners
Cinven
Colony Yangtze (Shanghai) Investment Management Consulting Co.,Ltd
CVC Capital Partners
ECI Partners
Giza Venture Capital
03 · Allocation
How LAFPP’s fund book is spread.
The 245 funds LAFPP backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters.
- North America 21789%
- Europe 2410%
- Rest of world 42%
United States 217 · United Kingdom 15 · China 2 · France 2
How established those managers are
Managers grouped by how many funds they have raised — across the 165 of 245 with a fund history on record.
Emerging funds · 73
Established funds · 92
32
1
23
2
18
3
20
4
24
5-6
20
7-9
16
10-14
12
15+
Funds raised by the manager
04 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to LAFPP by combined power-law score — North America first, then the nearest worldwide.
🇸🇪
AP2
$44B AUM
52 VC funds backed
🇺🇸
San Francisco Employees' Retirement System
$32B AUM
136 VC funds backed
🇺🇸
Texas County & District Retirement System (TCDRS)
$38B AUM
103 VC funds backed
🇺🇸
IBM Personal Pension Plan
$40B AUM
92 VC funds backed
🇺🇸
State Universities Retirement System
$25B AUM
50 VC funds backed
🇨🇦
CPP Investments
$456B AUM
132 VC funds backed
🇺🇸
Mayo Pension Plan
$12B AUM
53 VC funds backed
🇺🇸
CalSTRS
$311B AUM
126 VC funds backed