Colorado Fire & Police transitions to direct investments
Tue Jun 5, 2012
The $3.3 billion pension fund takes a thoughtful approach to allocating $600m to FoHFs and hedge funds
By Ann C Logue
The Colorado Fire & Police Pension Association (FPPA) was
founded in 1980 to take over the pension investments and
operations for police officers, firefighters, and departmental
staff employed by municipalities in the state of Colorado. The
goals were twofold: to reduce costs and to make it easier for
small, rural communities to offer competitive benefits. Based
in the Denver suburb of Greenwood Village, the FPPA's dry
description belies a complicated membership structure and an
evolving approach to absolute return.
FPPA has a lot of moving parts within its walls. It invests
for a large number of funds with different benefits and
different funding statuses. It has $3.3 billion to invest to
pay benefits now and for decades into the future. Scott Simon,
chief investment officer has been willing to change the fund's
investment policy as experience and market conditions warrant,
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