Los Angeles Fire and Police audit report IRRs, find no fault

LAFPP, Los Angeles Fire and Police Pensions, pension fund, private equity, Portfolio Advisors
Photo of Kobe Bryant, taken April 2, 2013. The Los Angeles Lakers seen here celebrating after his teammate Dwight Howard scored while being fouled on an assist from Bryant during the first quarter of their NBA basketball game against the Dallas Mavericks in Los Angeles. Reuters/Danny Moloshok
  • RVK, staff reviewed IRRs presented by Portfolio Advisors
  • Reported returns found correct
  • LAFPP one of several LPs to review PE fees, cash flows
Los Angeles Fire and Police Pensions found no fault with internal rates of return calculated by private equity consultant Portfolio Advisors, according to audit materials published in the pension’s Jan. 5 meeting materials. The review was conducted by RVK, the ...

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