L.A. Guns & Hoses Approves More Private Equity

August 11, 2008

The Los Angeles Fire & Police Pension System (LAFPP) made commitments to two new private equity funds last week, said Tom Lopez, CIO at the $14.4 billion plan. The board approved recommendations made by StepStone Group to invest $10 million each in Clearlake Capital Partners II, a $500 million distressed debt fund that will target small and middle market companies in the U.S. and Canada, and Element Partners II, a $500 million venture capital fund focused on diversified investments in the clean technology sector.

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