Arizona PSPRS commits up to $60m

The $10bn US public pension backs a China-focused growth equity fund.

The Arizona Public Safety Personnel Retirement System (PSPRS) disclosed a $40 million commitment to Trustbridge VI, with an additional $20 million reserved for potential co-investments, at today’s board meeting. The investment, which is subject to final due diligence, is PSPRS’ third with Trustbridge, as the pension fund previously committed $30 and $40 million to the firm’s fourth and fifth flagship vehicles, respectively.

The $10 billion US public pension has a 12 percent target allocation to private equity strategies that currently stands at around 14 percent. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.