LA Fire and Police lowers benchmark for PE performance


LAFPP, venture capital, private equity, pension fund
LA Los Angeles sign in redlight photo mount on downtown image. Photomount and digitally improved text. Photo courtesy of LUNAMARINA/iStock/Getty Images
Los Angeles Fire and Police Pensions adopted an investment policy that lowers its benchmark for private equity investments and eliminates investment staff’s ability to make PE investments without board approval. Rather than measuring performance against a benchmark of the S&P 500 ...

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