Colorado Fire & Police Pension Association, Denver, disclosed $100 million in new commitments in an investment activity report included with materials for its April 17 board meeting.
The $6.3 billion pension fund committed $50 million to Banner Ridge DSCO Fund III, a secondary distressed debt fund of funds managed by Banner Ridge Partners; €25 million ($28 million) to buyout fund Pollen Street Capital Fund V; and $10 million to early stage venture capital fund Obvious Ventures V, according to the report.
Banner Ridge is an existing manager for the pension fund. Its most recent commitment was $30 million to Banner Ridge DSCO Fund II in 2022. Pollen Street and Obvious Ventures are new managers for the pension fund.
The pension fund also committed €5 million to a co-investment alongside Incus Capital European Specialty Credit Fund IV to purchase a minority stake in a Spanish water utility.
Incus Capital European Specialty Credit Fund IV is a real estate credit fund focused on asset-backed loans, real estate credit and leasing opportunities in the Iberia region. FPPA committed €20 million to the fund in 2018.
Finally, the pension fund committed €5 million to a co-investment alongside Syntagma Capital Partners I to purchase a minority interest in a wet-end leather chemical business. FPPA committed €15 million to European buyout fund Syntagma Capital Partners I in 2023.
As of Feb. 28, the pension fund’s actual allocation to private markets was 30.8%; the target is 31%.
