Arizona Public Safety Personnel Retirement System, Phoenix, made new private equity commitments totaling $150 million, spokesman Christian Palmer said in an email.
The $10.6 billion pension fund committed $50 million directly and up to $50 million in co-investments to Trident VIII, a buyout fund managed by Stone Point Capital, and $30 million directly and up to $20 million in co-investments to Baring Asia Private Equity Fund VII, a buyout fund managed by Baring Private Equity Asia.
PSPRS previously committed up to $30 million directly and up to $30 million in co-investments to Trident VII in 2017, and committed up to $20 million to Baring Asia Private Equity Fund VI in 2014.
As of June 30, the pension fund had a private equity allocation of 13.1%; its target is 12%.
