Arizona PSPRS commits up to €60m

The $10bn US public pension backs Benson Elliot's fifth pan-European value-added fund.

The Arizona Public Safety Personnel Retirement System (PSPRS) committed €50 million, with an additional €10 million reserved for potential co-investments, to Benson Elliot Fund V, subject to final due diligence. The $10bn US public pension re-upped with Benson Elliot after investing €55 million in the firm’s fourth pan-European value-added vehicle.

PSPRS has a 9 percent current allocation to private real estate, slightly under its target of 10 percent. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.