Arizona Public Safety Personnel Retirement System, Phoenix, committed $50 million to StepStone VC Opportunities VII.
The $17.7 billion pension fund completed the commitment to the venture capital fund managed by Greenspring Associates on April 21, said Christian Palmer, pension fund spokesman, in an email.
The report did not provide a commitment amount. The pension fund previously committed $15 million to Greenspring Global Partners X in January 2021 and $10 million to Greenspring Opportunities VI in November 2019.
As of March 31, the pension fund's actual allocation to global private equity was 23.6%; the target is 27%.
