Thursday, 23 February 2017
Last updated 8 hours ago
Jul 30 2012 | 11:45am ET
The Arizona Public Safety Personnel Retirement System has committed as much as $100 million to a trio of alternative investment firms.
The bulk of the money went to former FrontPoint Partners' star manager Stephen Czech's Czech Asset Management. The $6.6 billion public pension fund committed up to $70 million to the firm's SJC Onshore Direct Lending Fund II, spun off from FrontPoint earlier this year.
The pension also committed up to $20 million to Avalon Ventures' Fund X and $10 million to Iron Point Real Estate's second fund.
NEPC assisted with the search for Czech, while private equity consultant StepStone Group and real-estate consultant ORG Portfolio Management worked on the Avalon and Iron Point commitments.