The Arizona Public Safety Personnel Retirement System, Phoenix, approved a $124 million ETF allocation, confirmed James Nielsen, CIO for the $6.2 billion system. Further details have not yet been decided, Mr. Nielsen said. Plan officials are in the midst of an asset allocation study that they hope to complete by the end of February. The changes are being made for diversification.
The system also approved a commitment of up to $25 million to Mesirow Financial Capital Partners IX. Another commitment of up to $20 million was made to Conservation Forestry Capital I, a timber fund, pending contract negotiations, Mr. Nielsen said. The board wanted to add the asset class for diversification, said James Hacking, executive director of the system.
No consultant assisted.