Institutional Investors

Arizona Public Safety adds debt fund

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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