Institutional Investors

Colorado Fire & Police transitions to direct investments


The $3.3 billion pension fund takes a thoughtful approach to allocating $600m to FoHFs and hedge funds

By Ann C Logue

Ben Bronson
Austin Cooley
Scott Simon
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.