Colorado Fire & Police Pension Association, Greenwood Village, allocated $165 million total to three managers, said Scott Simon, chief investment officer, in an email.
In fixed income, the $4.1 billion pension fund hired Loomis Sayles & Co. to manage $125 million in its core disciplined alpha strategy, Mr. Simon said. Funding will come from the earlier termination of Goldman Sachs Asset Management from an unconstrained fixed-income strategy and a reduction to passive fixed-income manager State Street Global Advisors. Goldman Sachs was terminated last year as part of the pension fund's desire to restructure risk in its fixed-income portfolio. The pension fund had $116 million invested with GSAM, which was transferred to SSGA in October. Before the transfer, SSGA managed approximately $197 million in passive fixed income.The pension fund also committed $20 million to OSP Value Fund II, a distressed debt fund managed by O'Brien-Staley Partners, and invested $20 million in CommonWealth Opportunity Capital, a hedge fund.
The pension fund previously committed $30 million to predecessor fund OSP Value Fund in 2015.
The pension fund's fixed income, absolute return and illiquid alternatives targets are 15%, 9% and 24%, respectively.
