Arizona PSPRS commits $250m across 3 funds

The $2.3bn US public pension builds out its underweight private debt portfolio.

The Arizona Public Safety Personnel Retirement System (PSPRS) allocated $250 million to three private credit funds at Wednesday’s board meeting, subject to final due diligence.

The $2.3 billion US public pension disclosed commitments of $100 million to Audax Senior Debt Fund; $75 million to Stellus Credit Fund II; and $75 million to Crestline Specialty Lending Fund II.

Arizona PSPRS has a 16 percent target allocation to private debt that currently stands at 12.66 percent.

Platinum subscribers may click here for the pension fund’s full profile, including key contacts, allocation strategy and fund investments.