Arizona Public Safety approves $50m commitment

The Phoenix-based pension has re-upped with Lubert-Adler Real Estate Funds.

Institution: Arizona Public Safety Personnel Retirement System
Headquarters: Phoenix, US
AUM: $17.21 billion
Allocation to alternatives: 32.41%

Arizona Public Safety Personnel Retirement System has committed $50 million to Lubert-Adler Recovery & Enhancement Capital Fund, a contact at the pension confirmed to PERE.

The pension has previously committed to funds managed by Lubert-Adler Real Estate Funds.

As illustrated below, PSPRS’s recent real estate commitments have tended to focus on vehicles targeting investments in North America and Europe. The pension currently allocates 6.46 percent of its investment portfolio to real estate.

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