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Los Angeles Fire & Police Pension System (LAFPP)
LAFPP is the Los Angeles Fire & Police Pension System, a public defined-benefit pension fund overseen by CIO Bryan Fujita with a diversified global...
Los Angeles Fire & Police Pension System (LAFPP)
The Los Angeles Fire & Police Pension System (LAFPP) is a public defined-benefit pension fund established by the City of Los Angeles to provide retirement benefits for its fire and police personnel. Joseph Salazar serves as General Manager, and Bryan Fujita is the Chief Investment Officer, leading investment decisions. The system is governed by a Board of Commissioners, currently led by President Andrea Ambriz, with oversight from the city government. LAFPP allocates capital across a broad multi-asset strategy, including venture capital (early-stage), real estate (via funds such as Oaktree Real Estate Opportunities Fund IX and Blue Owl Real Estate Fund VII), infrastructure (global), commodities, and private credit. Its real estate holdings span commercial, industrial, and mixed-use properties, with geographic exposure in North America and Europe through vehicles like EQT Exeter Europe Logistic Value Fund V. The fund also maintains a hedge fund allocation. Known co-investments are not publicly disclosed on an ongoing basis. The system employs a professional investment staff and operates from its headquarters at 701 East 3rd Street in Los Angeles. LAFPP is a signatory to the Institutional Limited Partners Association (ILPA) Diversity in Action Initiative and participates in the California Association of Public Retirement Systems (CALAPRS) and the International Foundation of Employee Benefit Plans (IFEBP). A recent operational focus includes continuing to evolve its venture capital program, with multiple early-stage venture fund commitments reported in recent years (per public record). A structural differentiator is LAFPP's status as a public pension fund serving a specific municipal workforce, which ties its governance to the City of Los Angeles and subjects it to state-level public disclosure requirements. Its investment decisions are made by a board of commissioners appointed by the mayor and city council, providing a layer of political accountability uncommon among private allocators.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
701 East 3rd Street, Los Angeles, CA 90013, United States
Principals
Joseph Salazar
General Manager
Bryan Fujita
Chief Investment Officer
Andrea Ambriz
President of the Board of Commissioners
Sector focus
Frequently asked questions
Who runs investment decisions at LAFPP?
Bryan Fujita serves as Chief Investment Officer, leading the investment team and strategy. Final investment decisions are made by the Board of Commissioners, currently chaired by President Andrea Ambriz, with oversight from the City of Los Angeles.
What asset classes does LAFPP invest in?
LAFPP allocates across venture capital (early-stage), real estate (commercial, industrial, mixed-use via funds like Oaktree Real Estate Opportunities Fund IX and Blue Owl Real Estate Fund VII), infrastructure (global), commodities, private credit, and hedge funds. The fund also has a global infrastructure allocation.
Does LAFPP invest directly or through external managers?
LAFPP primarily invests through external fund managers, as evidenced by its commitments to real estate and venture capital partnerships. It also makes co-investments alongside those managers, though specific direct deals are not routinely disclosed.
How is LAFPP governed?
LAFPP is governed by a Board of Commissioners appointed by the Mayor of Los Angeles and confirmed by the City Council. The board sets investment policy, oversees the CIO and General Manager, and is subject to California public disclosure laws.
What is LAFPP's relationship to the City of Los Angeles?
The City of Los Angeles established LAFPP as a public pension system for its fire and police employees. The city is the sponsor and provides employer contributions, while the fund operates with a separate board and investment staff.
Does LAFPP participate in industry associations?
Yes. LAFPP is a signatory to the ILPA Diversity in Action Initiative, and it participates in the California Association of Public Retirement Systems (CALAPRS) and the International Foundation of Employee Benefit Plans (IFEBP).
What is LAFPP's geographic investment focus?
LAFPP invests globally. Its real estate portfolio includes North American and European exposures, with funds like EQT Exeter Europe Logistic Value Fund V (Europe) and Blue Owl Real Estate Fund VII (North America). Infrastructure and venture capital allocations are global in scope.
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