Az. Eyes Still More Hedge Funds

Jun 20 2011 | 1:56am ET

The Arizona Public Safety Personnel Retirement System is likely to continue adding to its hedge fund portfolio this month.

The $6.9 billion public pension has poured hundreds of millions of dollars into hedge funds in recent months, and is poised to put another $75 million in at its June 22 investment committee meeting. That committee will discuss a potential $50 million investment in Pacific Alliance Group's Special Situations Fund and a $25 million follow-on investment in GAM's U.S. Institutional Trading II fund, according to an agenda for the Wednesday meeting.

The PAG investment would be split into a $25 million direct investment and co-investments of up to the same amount. PSPRS already has some $75 million invested in the GAM fund.

The pension will also discuss a potential $20 million investment in private equity fund Berkshire Fund VIII.


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