Arizona PSPRS commits $30m

The $2,3bn US public pension commits to a North America-focused fund.

The Arizona Public Safety Personnel Retirement System (PSPRS) disclosed a commitment of $30 million, with an additional $10 million reserved for co-investments, to LightBay Investment Partners at Wednesday’s board meeting, subject to final due diligence.

The $2.3 billion US public pension has a 12 percent target allocation to private equity that currently stands at 13.88 percent.

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