Los Angeles Water and Power Employees's Retirement Plan invests up to $75m in ACORE Capital

According to recent filings, the Board of Administration of the Los Angeles Water and Power Employee' Retirement Plan unanimously approved an investment of up to $60 million from the Retirement Fund and up to $15 million from the Retiree Health Benefits Fund in ACORE Credit Partner II, L.P, a closed-end real estate fund focused on investing in transitional commercial real estate debt investment in primary and select secondary markets in the United States.