Colorado Fire & Police puts $35 million to work in private equity, hedge funds

Colorado Fire & Police Pension Association, Greenwood Village, committed or invested $35 million total to two managers and terminated two others, said Scott Simon, chief investment officer.

The $3.9 billion pension fund invested $20 million in Trient Global Macro Fund, a hedge fund managed by Trient Asset Management. It also committed $15 million to Technology Crossover Ventures VIII, a technology growth private equity fund.

The pension fund committed $10 million to the predecessor TCV fund; it is the first investment with Trient.

Separately, the pension fund terminated a $119 million core fixed-income portfolio managed by C.S. McKee and the $88 million hedge fund of funds GAM Global Macro. Mr. Simon said the terminations were not performance related and are part of a long-term transition plan. The C.S. McKee assets will fund a new 4% managed futures allocation. The GAM termination is part of the pension fund’s transition to direct investments in hedge funds.