Colorado Fire & Police sets $30 million for energy fund, terminates 2 managers

Colorado Fire & Police Pension Association, Greenwood Village, committed $30 million to Arroyo Energy Investors Fund II, which targets power and midstream energy assets in North and South America, said Scott Simon, chief investment officer, in an email.

The fund is managed by Arroyo Energy Investment Partners.

Separately, the pension fund terminated Winton Capital Management because it is no longer providing its active global equity strategy in a separate account structure. The strategy will continue to be offered as a commingled fund.

Winton’s $114 million allocation will temporarily be placed with passive global equity manager State Street Global Advisors until a replacement, active manager is hired.

SSGA already manages $524 million in passive global equity for the pension fund. There is no formal search for a replacement manager at this time.

Also, the pension fund is redeeming its $46 million investment in long/short equity hedge fund Senator Global Opportunity, managed by Senator Investment Group.

Mr. Simon cited the “growth in fund size” as the reason for the redemption.

Funds will be transferred to cash and a replacement search is not planned.