Arizona PSPRS approves $120m commitment

The US public pension has backed an Asia-focused private equity fund.

Institution: Arizona Public Safety Personnel Retirement System
Headquarters: Phoenix, United States
AUM: $11.18bn
Allocation to alternatives: 50.79%
Bitesize: $10-50m

Arizona Public Safety Personnel Retirement System committed $120 million to StepStone AZ China and Asia Opportunities Fund II. The vehicle will be used by Stepstone Group to invest in diversified sectors throughout the Asia-Pacific region.

The $11.18 billion US public pension has a 14 percent target allocation to private equity that currently stands at 12.08 percent.

As illustrated in the charts below, PSPRS devotes 50.79 percent of its full investment portfolio to alternative assets. The pension’s appetite for private equity funds spans across several strategies, sectors and regions.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.