L
$30B
assets under management2% to venture · ~$600M
245 funds backed
Funds backed
245
Power Law funds backed
30
Direct holdings
0
Power Law
#76LP Ranking · #39 of 121 pension funds
Background
Who LAFPP is.
Where the institution came from, whose capital it manages, and how that capital is allocated — from Dealroom's LP research.
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.
Fund commitments
The funds LAFPP backs.
LAFPP is a limited partner in 245 funds. 30 of them place in the Power Law Investor Ranking, and the best-ranked are shown here.
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
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. 73 emerging (three funds or fewer), 92 established — across the 165 of 245 with a fund history on record.
32
1
23
2
18
3
20
4
24
5-6
20
7-9
16
10-14
12
15+
Funds raised by the manager
Emerging · up to 3 funds
Established · 4 or more
How LAFPP stacks up
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.
🇺🇸
LACERS
$22B AUM
62 VC funds backed
🇺🇸
Agilent Technologies Deferred Profit-Sharing Plan
$141M AUM
20 VC funds backed
🇺🇸
Agilent Technologies Retirement Plan
$1.8B AUM
20 VC funds backed
🇺🇸
HP Pension Plan
$5.2B AUM
19 VC funds backed
🇺🇸
Sidley Austin Master Pension Trust
38 VC funds backed
🇨🇦
CPP Investments
$456B AUM
79 VC funds backed
🇺🇸
Arkansas Teacher Retirement System
$23B AUM
33 VC funds backed
🇺🇸
UPMC Master Trust
23 VC funds backed
Figures on this page are sourced live from the Dealroom next-gen API, joined with Dealroom’s cap-table dataset (estimated holdings) and the Power Law Investor Ranking. News in “Featured in” is drawn from Dealroom’s own coverage — the stories that name this investor, not only those it is the subject of. Market sentiment is omitted until the API exposes it.