Arizona Public Safety Personnel Retirement System, Phoenix, committed up to $75 million to BlackRock Fixed Income Global Alpha Fund, confirmed James Hacking, administrator of the $7.3 billion pension fund.
Funding will come from core fixed income. Mr. Hacking said no managers will be terminated.
The pension fund also made a follow-on commitment of $45 million to D.E. Shaw Multi-Asset Fund, a multistrategy hedge fund. The pension fund originally committed $100 million to the fund in September 2011.
Investment consultant NEPC assisted.