Arizona PSPRS confirms $150m commitment

The US-based public pension fund has backed a mezzanine vehicle, according to its latest board of trustees meeting.

Institution: Arizona Public Safety Personnel Retirement System
Headquarters: Phoenix, US
AUM: $17.31 billion
Allocation to alternatives: 33.1%

Arizona Public Safety Personnel Retirement System approved a $150 million commitment to AlbaCore Partners III at its April 2022 board of trustees meeting, a contact at the pension confirmed to Private Equity International.

AlbaCore Capital Group launched its third private equity vehicle in May 2021, which has a current fund size of €1.5 billion and a target fund size of €2 billion. The firm is raising its third mezzanine fund to invest in Western Europe.

Arizona PSPRS currently allocates $2.16 billion to private equity investments, comprising 12.45 percent of its total investment portfolio. As illustrated below, the pension’s recent private equity commitments have focused on buyout and venture capital vehicles in the North America and Asia-Pacific regions.

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