Arizona Public Safety Personnel Retirement System, Phoenix, made a $60 million direct investment in GSA Trend Risk Premia Fund, a hedge fund managed by GSA Capital Partners, said Mark Steed, lead portfolio manager and chief of staff, in an e-mail.
It is the first investment for the $8 billion pension fund in a GSA fund. GSA Capital Partners specializes in trading across liquid equities, futures and foreign-exchange markets.
The pension fund also committed up to $40 million directly and $20 million in co-investments to buyout fund Cortec Group Fund VI. The pension fund previously committed up to $30 million to Cortec Group Fund V in February 2011.