Arizona Public Safety Personnel Retirement System, Phoenix, disclosed three new commitments and investments totaling $145 million, spokesman Christian Palmer said in an email.
The $10.2 billion pension fund committed $60 million to Corrum Capital Aviation Partners II, a private equity fund managed by Corrum Capital Management and $50 million to Sterling Group Partners V, a buyout fund managed by Sterling Group. The pension fund also made a $35 million direct hedge fund investment with Hawk Ridge Capital Management.
PSPRS previously committed up to $20 million to Sterling Group Partners IV in 2015.
As of March 31, the actual allocations to private equity and diversifying strategies were 29.2% and 14.2%, respectively; their respective targets are 23% and 12%.