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Los Angeles pension fund commits $100M to Angelo Gordon Asia RE vehicle

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Los Angeles pension fund commits $100M to Angelo Gordon Asia RE vehicle

The Los Angeles County Employees Retirement Association will invest $100 million in Angelo Gordon & Co. LP's AG Asia Realty Fund IV, IPE Real Assets reported, citing a spokesperson.

The value-add property fund will target the office, retail and residential markets in Japan, South Korea, Hong Kong and China and had its initial close in September 2018 at $110 million, the publication noted.

The pension fund also confirmed that it sold the 251-room St. Regis Princeville Resort and Makai Golf Course in Hawaii for $224.1 million, the publication reported, citing a meeting document. Starwood Capital Group announced the acquisition of the resort for an undisclosed amount in 2018.