Arizona Public Safety Personnel Retirement System, Phoenix, committed $120 million to StepStone AZ China and Asia Opportunity Fund II, a private equity fund managed by StepStone Group, the pension fund's private equity consultant, confirmed Christian Palmer, spokesman for the pension fund, in an email.
The $10.6 billion pension fund previously committed up to $90 million to StepStone AZ China and Asia Opportunity Fund in 2015.
As of June 30, the actual allocation to private equity was 15.4%.
