Arizona Public Safety Personnel Retirement System, Phoenix, committed a total of up to $120 million to two real estate funds, confirmed James Hacking, pension fund administrator.
The $7.8 billion pension fund made a direct commitment of up to $40 million and another $30 million co-investment to Lubert-Adler Real Estate Fund VII. The pension fund previously committed up to $30 million to Fund VI-B in March 2011.
Also, the pension fund made a direct commitment of up to $30 million and another $20 million co-investment to Walton Street Real Estate Fund VII, managed by Walton Street Capital. The pension fund previously committed $50 million to Walton Street Mexico Fund I in September 2008.