Arizona Public Safety Personnel Retirement System, Phoenix, hired Select Equity Group to run up to $100 million in active international long-only equities, confirmed James Hacking, administrator of the $7.2 billion pension fund.
Funding will come from passive portfolios managed by State Street Global Advisors, which will now total about $900 million.
Separately, the pension fund committed up to $50 million to Crestline Offshore Opportunity Fund II, a middle-market loan fund managed by Crestline Investors.
The pension fund also committed up to $40 million to Alterna Core Capital Assets Fund II, a diversified portfolio of core capital asset investments in such industries as transportation and energy. The pension fund also reserved an additional $30 million as a potential co-investment with manager Alterna Capital Partners.