Colorado Fire & Police Pension Association, Greenwood Village, committed and invested $106 million with six different managers, confirmed CEO Dan Slack.
The $3.3 billion pension fund invested $36 million in a long/short equity hedge fund managed by AKO Capital. The hire is part of the pension fund’s continuing program to allocate 20%, or about $300 million, of the global equity portfolio to hedge fund strategies. The AKO investment is the first with a solely European focus, Mr. Slack said in a telephone interview.
The pension fund also invested $30 million in Brigade Opportunistic Credit Fund, a growth-oriented public debt fund managed by Brigade Capital Management. The board last year approved a zero to 5% target allocation to growth-oriented public debt, Mr. Slack said.
Albourne Partners assisted with the two hires.
Also, over the last two months the pension fund committed $10 million each to private equity funds Roark Capital Partners III, Commonfund Capital Venture Partners X, Natural Gas Partners Fund X and Energy & Minerals Group II.
The pension fund previously invested $15 million in Roark Capital Partners II and $12.5 million with Commonfund Capital Venture Partners IX. The current private equity allocation is 14%, and Mr. Slack said the pension fund plans on allocating another $70 million by the end of the year.
Investment consultant Pension Consulting Alliance assisted.
