Arizona Public Safety Personnel Retirement System, the $6.9 billion pension fund based in Phoenix, Arizona, will look to make another addition to its hedge fund portfolio. It will invest up to $60 million in Southpoint Qualified Fund, the fund run by Southpoint Capital Advisors. At the same time the pension fund has set about redeeming a $75 million holding in GAM.
The pension scheme currently has around 3.5% of total assets invested in hedge funds and has a target allocation of around 4%. The bulk of its portfolio comprises three multi-strategy hedge funds, with significant allocations towards post