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Los Angeles City Employees commits $50 million to real estate fund

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Los Angeles City Employees’ Retirement System reported a commitment of up to $50 million to TPG Real Estate Partners IV in materials for its Tuesday board meeting.

TPG’s latest real estate fund aims to invest in opportunistic real estate in North America and Europe. The $22.5 billion LACERS has invested with TPG in the past, including a 2021 commitment of up to $50 million to growth equity fund TPG Rise Climate.