Colorado Fire & Police Pension Association, Greenwood Village, committed $68 million to six alternatives funds, said Scott Simon, chief investment officer of the $6.5 billion pension fund, in an email.
At its June 17 meeting, the board approved a $20 million commitment to Banner Ridge Secondary Fund IV, a private credit fund managed by Banner Ridge Partners; and an additional $5 million to an overflow co-investment vehicle. The pension plan has a previous relationship with Banner Ridge.
The board also approved an $18 million commitment to Systematic Growth Fund III, a Nordic fund that acquires multiple microcap companies to build larger ones. It is FPPA's first commitment with Systematic.
FFPA also approved a $15 million commitment to Wavecrest Growth Partners II, a growth fund that invests in lower middle-market business-to-business technology companies. The pension plan previously committed to the first fund in this series.
Finally, the board approved two commitments of $5 million each to Foundation Capital X and Foundation Capital Leadership Fund III, both venture capital funds. The commitments are the fund's first with Foundation Capital.