Arizona Public Safety puts up to $130 million with 2 managers

Arizona Public Safety Personnel Retirement System, Phoenix, committed up to $90 million, including up to $15 million in co-investments, to Crestline Direct Lending Master Fund, managed by Crestline Investors, said Mark Steed, chief of staff and lead portfolio manager.

The $8.1 billion pension fund previously committed up to $50 million to Crestline Offshore Opportunity Fund II, a middle-market loan fund, in May 2013.

Also, the pension fund committed up to $40 million, including up to $20 million in co-investments, to Centerbridge Capital Partners III, a distressed debt fund managed by Centerbridge Partners.

The pension fund previously committed up to $40 million to Centerbridge Special Credit Partners II in March 2012.

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