LA Fire and Police Pension System is standing by its lower mid-market and emerging manager strategy in private equity, arguing those investments have continued generating distributions even as many institutional investors grapple with a prolonged liquidity crunch. Head of PE Adam Perez spoke to that conviction during an August 6 board meeting.

Adam Perez, head of private equity at the $38bn Southern California public pension, stated the portfolio’s distributions have fared well in a difficult period for LPs with hefty PE allocations. The pension system remains committed to lower mid-market and emerging managers.

The reaffirmation comes amid a challenging environment where many LPs face liquidity constraints. LA Fire and Police Pension’s strategy has provided steady returns, reinforcing its dedication to these segments.