Thursday, 7 May 2015
Last updated 11 hours ago
Nov 23 2010 | 10:30am ET
The Arizona Public Safety Personnel Retirement System is adding more than $100 million to its alternative investment profile.
The $6.5 billion pension has committed up to $60 million to the Baring Asia Private Equity Fund V and up to $50 million to Davidson Kempner Capital Management's Institutional Partners fund, Pensions & Investments reports. The latter is a low-volatility multi-strategy vehicle.
Both commitments will be funded from APS' equity portfolio, which is being reduced from 38% to a 35% target.
The system also approved reinvesting distributions received from Bridgewater Associates into another Bridgewater fund. APS will pour as much as $70 million it gets back from the Bridgewater Pure Alpha Fund II into Bridgewater's All Weather Portfolio II.
"As they come back in they are going to be reinvested," James Hacking, the pension's administrator, told P&I.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…