Arizona Public Safety Personnel Retirement System, Phoenix, hired Gotham Asset Management to run up to $230 million total in three equity strategies, confirmed James Hacking, administrator of the $6.9 billion pension fund.
Gotham Asset will manage up to $100 million in active domestic long-only equities, $70 million in active international long-only equities and $60 million in active domestic long/short equities. Funding will come from passive portfolios managed by State Street Global Advisors, which will now total about $980 million.
Investment consultant NEPC assisted.
Separately, staff and NEPC recommended commitments of up to $30 million to Bridgewater Pure Alpha Major Markets, $25 million to KKR Asia Fund II and $20 million to Castle Creek AZ TARP Special Situations Fund. All are pending staff review and legal due diligence.