Arizona Public Safety Personnel Retirement System, Phoenix, hired BlackRock to manage $30 million in frontier markets equity, said Mark Steed, chief of staff and lead portfolio manager, in an e-mail.
The $8.1 billion pension plan also made three new commitments totaling up to $163 million. It committed up to $40 million to Trustbridge Partners V, a private equity fund targeting technology, consumer services and products, health-care and media companies in China. The pension fund previously committed up to $30 million to Trustbridge Partners IV in September 2011.
The pension fund also committed up to $40 million in direct investments and up to $20 million in co-investments to Rockbridge Hospitality Fund VI, a value-added real estate fund managed by Rockbridge Capital. It is the pension fund’s first commitment to a Rockbridge Capital fund.
Also, the pension fund committed up to €30 million ($38 million) in direct investments and up to €20 million in co-investments to Catalyst European Property Fund II, managed by Catalyst Capital. The pension fund previously committed up to $50 million to Catalyst European Property Fund in October 2008.