Arizona Public Safety Personnel Retirement System, Phoenix, will consider making up to $125 million in new commitments at its June 22 board meeting, confirmed James Hacking, administrator of the $6.9 billion system.
The board will consider committing up to $50 million in the Pacific Alliance Asia Special Situations fund, with half going to a direct investment in the fund and the remaining $25 million going to co-investments, Mr. Hacking said in a telephone interview. “They will make and hold investments across Asia in distressed assets or performing assets that are trading at distressed levels,” Mr. Hacking said.
The board also will discuss committing up to $30 million in Greenfield Acquisition Partners VI, which focuses on real estate through distressed debt opportunities, Mr. Hacking said.
The board also will consider a commitment of up to $20 million in Berkshire Fund VIII, a private equity fund, Mr. Hacking said.
A follow-on commitment of up to $25 million will be considered for GAM U.S. Institutional Trading II, a portable alpha strategy. The retirement system already has $75 million invested in the GAM fund, Mr. Hacking said.