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 confirmed a €150 million ($174 million) commitment to Henderson Park Real Estate Fund II, according to materials from an October investment committee meeting.
Managed by the London-based investment manager Henderson Park, the fund is in the market with a target size of $3.5 billion and has accrued more than $1 billion in investor capital. Having launched in June 2021, REF II will target real estate investment opportunities across Europe.
Other investments to the fund include a $30 million commitment from Louisiana School Employees’ Retirement System in June 2021.
Henderson Park operates under a self-described value-Add/opportunistic strategy, acquiring under-managed or under-invested institutional assets and transforming them into core products, delivering a return primarily through capital gain.
PSPRS allocates 6.46 percent of its investment portfolio to real estate, which equates to more than $1.1 billion in capital. The $17.21 billion public pension has a target allocation of 6 percent to real estate.
As illustrated below, PSPRS’ recent real estate commitments have tended to focus on North American diversified vehicles targeting a variety of strategies.
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