Arizona Public Safety Personnel Retirement System, Phoenix, made commitments and investments totaling up to $280 million, said Christian Palmer, spokesman, in an email.
The $9 billion pension fund committed up to $80 million directly to EnCap Energy Capital Fund XI, an oil and gas fund managed by EnCap Investments. The pension fund previously committed up to $50 million directly and up to $20 million in co-investments to EnCap Energy Capital Fund X in 2015.
The pension fund also committed up to $60 million directly and up to $40 million in co-investments to private equity fund Orion Mine Finance Fund II, managed by Orion Resource Partners. The pension fund previously committed up to $50 million directly and $20 million in potential co-investments to Orion Mine Finance Fund I in 2014.
Also, the pension fund invested up to $50 million directly and up to $25 million in co-investments to Sabal Debt Opportunities Fund, a hedge fund managed by Sabal Investment Advisors. It is a new relationship.
Finally, the pension fund made a follow-on commitment of $25 million to Fundamental Partners III, a distressed debt fund managed by Fundamental Advisors. The pension fund originally committed up to $50 million directly and $30 million in co-investments to the fund in April 2015.