Searches and Hires

Arizona Public Safety commits $95 million to 2 funds

Arizona Public Safety Personnel Retirement System, Phoenix, made new commitments totaling up to $95 million, spokesman Christian Palmer said in an email.

The $9.7 billion pension fund committed up to $45 million directly and up to $20 million for co-investments to TowerBrook Investors V, a buyout fund managed by TowerBrook Capital Partners. The pension fund previously committed up to $45 million to TowerBrook Investors IV in 2013.

The pension fund also committed up to $30 million to StepStone Endurance, a pooled investment fund managed by StepStone Group, the pension fund's private equity consultant. The pension fund previously committed up to $90 million to StepStone AZ China and Asia Opportunity Fund in 2015.

Both commitments are in the pension fund's private equity asset class, which had an allocation of 13% as of March 31.