Arizona Public Safety Personnel Retirement System, Phoenix, committed a total of up to $155 million to opportunistic credit and private equity funds, spokesman Christian Palmer said in an email.
The $10.2 billion pension fund committed up to $75 million to Crestline Portfolio Financing Fund, an opportunistic credit fund managed by Crestline Investors. The pension fund previously committed up to $75 million to Crestline Specialty Lending Fund II in January.
As of Sept. 30, PSPRS' actual allocation to private credit was 15.7%; the target is 16%.
The pension fund also committed up to $50 million directly and $30 million in co-investments to TSG8, a middle-market private equity fund managed by TSG Consumer Partners. PSPRS previously committed up to $50 million total to TSG 7A and TSG 7B funds in 2015.
As of Sept. 30, the pension fund's actual allocation to private equity was 13.2%; the target is 12%.
All commitments are subject to final staff and legal due diligence.
