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Arizona Public Safety pledges $70 million for direct, co-investments

Arizona Public Safety Personnel Retirement System, Phoenix, committed up to $40 million directly and up to $30 million in co-investments to real estate fund Lubert-Adler Real Estate Fund VII-B, said Christian Palmer, pension fund spokesman, in an e-mail.

The $8.3 billion pension fund has made multiple commitments to various Lubert-Adler funds, most recently in January when it committed $40 million to Lubert-Adler Laramar Urban Neighborhood Fund.