Colorado Fire & Police Pension Association, Denver, disclosed new alternative fund commitments totaling $82 million and hired Wellington Management as a new manager overseeing its currency overlay program, said R. Scott Simon, chief investment officer, in an email.
The $6.4 billion pension fund's investment staff committed €20 million ($22 million) to NORD KB Micro-Cap VIII, a Western European microcap buyout fund managed by NORD Holding; $20 million each to middle-market buyout fund Alpine Investors IX and buyout fund CORE Industrial Partners Fund III; $15 million to buyout fund Edgewater Capital Partners V; and $5 million to Inferno, a co-investment fund that invests alongside Enlightenment Capital Solutions Fund IV, a senior and mezzanine debt and equity fund.
The pension fund previously committed $25 million to Alpine Investors VIII and $20 million to CORE Industrial Partners Fund II, both in 2021, and $15 million to Enlightenment Capital Solutions Fund IV in 2022. Both NORD and Edgewater Capital are new managers for the pension fund.
As of Feb. 28, the pension fund's actual allocation to private markets was 31.6%; the target is 31%.
Separately, staff also hired Wellington to oversee the pension fund's existing currency hedging program, replacing BNP Paribas Asset Management. The staff is also continuing due diligence on a second manager to complement Wellington in oversight of the $600 million program.
Mr. Simon declined to comment on a reason for the termination of BNP Paribas.