PSPRS approves $60m commitment

The US public pension has backed a financial services fund.

Institution: Arizona Public Safety Personnel Retirement System
Headquarters: Phoenix, United States
AUM: $14.07 billion
Allocation to alternatives: 33.41%

Arizona Public Safety Personnel Retirement System committed $60 million to Castle Creek Capital Partners VIII, according to the pension’s August 2021 investment committee meeting agenda. Capital raised by the vehicle will be used to invest in mid-market community banking companies throughout the United States.

As illustrated in the charts below, the $14.07 billion pension devotes 14.22 percent of its full investment portfolio to private equity. PSPRS has a strong appetite for North America-focused funds across diversified strategies and sectors.

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