Arizona Public Safety Personnel Retirement System, Phoenix, made up to $110 million in new commitments and co-investments plus a follow-on commitment of up to $20 million, said Mark Steed, chief of staff and lead portfolio manager, in an e-mail.
The $8.1 billion pension fund committed up to $40 million in direct investments and up to $20 million in co-investments to Vivo Capital Fund VIII, a venture capital fund.
The pension fund also committed up to $30 million in direct investments and up to $20 million in co-investments to BPE Asia Real Estate Fund, a real estate fund managed by Baring Private Equity Asia.
Also, the pension fund made a follow-on commitment of up to $20 million to Alcion Real Estate Partners Tax-Exempt Parallel Fund III, managed by Alcion Ventures. The pension fund had initially committed up to $30 million in direct investments and $30 million in co-investments to the fund in January 2014.
Separately, the pension fund voted to fully redeem its direct investment in BlackRock's Global Ascent global macro hedge fund. Mr. Steed did not give a reason or an amount invested in the hedge fund.