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Arizona PSPRS confirms $150m commitment

The US-based public pension fund has backed a mezzanine vehicle, according to its latest board of trustees meeting.

Institution: Arizona Public Safety Personnel Retirement System
Headquarters: Phoenix, US
AUM: $17.31 billion
Allocation to alternatives: 33.1%

Arizona Public Safety Personnel Retirement System approved a $150 million commitment to AlbaCore Partners III at its April 2022 board of trustees meeting, a contact at the pension confirmed to Private Debt Investor.

AlbaCore Capital Group launched its third private debt vehicle in May 2021, which has a current fund size of €1.5 billion and a target fund size of €2 billion. The firm is raising its third mezzanine fund to invest in Western Europe.

Arizona PSPRS currently allocates $1.73 billion to private debt investments, comprising 9.97 percent of its total investment portfolio. As illustrated below, the pension’s recent private debt commitments have focused on venture, mezzanine and senior debt vehicles in North America and Western Europe.

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