Arizona Commits $995M To Private Equity

Mar 11 2008 | 11:18am ET

The $28 billion Arizona State Retirement System Phoenix is looking to ramp up its $1.4 billion private equity portfolio this year to more than $2 billion.

According to minutes from a recent investment committee meeting, the system expects to commit an additional $995 million to private equity in 2008.

Gary Dokes, chief investment officer, said there is currently $60 million drawn down in the system’s p.e. portfolio, which will increase to $360 million by the end of 2008.

Arizona’s nascent p.e. program began in July 2007 and its p.e. consultants are Ennis Knupp, Meketa Investment Group and Franklin Park Associates.

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