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Los Angeles pension fund sets aside $135M for 3 real estate funds

Los Angeles Fire and Police Pensions is allocating $135 million to a trio of real estate funds, as it aims to maintain its 10% real estate allocation, IPE Real Assets reported.

The pension fund is committing $35 million to Unico Core Plus Partners, which will target office investments in Seattle; Denver; and Portland, Ore.; $50 million to the value-add-focused Heitman Asia-Pacific Property Investors fund; and $50 million to Almanac Realty Securities VIII, which invests in U.S. real estate operating companies, the publication noted, citing a board meeting document.

The commitments form part of the pension fund's 2018 real estate and strategic implementation plan, the publication noted, citing a board meeting document.