Institutional Investors

Arizona Public Safety adds debt fund


The Arizona Public Safety Personnel Retirement System continues to expand its hedge fund programme, most recently adding EJF Capital.

Investment department staff and consultant Albourne America presented a recommendation of up to $40 million in the EJF Debt Opportunities Fund to trustees in March. The $6.5 billion retirement system is also considering seeding hedge funds and in the meantime has added two more hedge fund managers in the past month.

The definitive structure for a seed portfolio has yet to be established, but other recent hires include Centerbridge Partners for $60 million and