Searches and Hires

Arizona Public Safety allocates up to $100 million to 2 hedge funds

Arizona Public Safety Personnel Retirement System, Phoenix, is making two new direct hedge fund investments totaling up to $100 million, Christian Palmer, pension fund spokesman, said in an email.

The $9.9 billion pension fund is investing up to $50 million each in Honeycomb Master Fund, managed by Honeycomb Asset Management, and Pentwater Merger Arbitrage Fund, managed by Pentwater Capital Management. Mr. Palmer said the pension fund will likely invest somewhere between $30 million and $50 million to each fund.

The investments fall within the pension fund's global trading strategies asset class. As of Dec. 31, the actual allocation to global trading strategies was 11.1%.