Arizona Public Safety Allocates $450M to Private Equity, Credit Funds

The Arizona Public Safety Personnel Retirement System (PSPRS) committed a total of $450M between a middle market buyout and a direct lending credit fund, as confirmed by spokesperson Christian Palmer in an email to Dakota.

The pension allocated $200M to Stone Point Capital buyout fund Trident X and $250M to TPG’s Angelo Gordon Asset Based Credit Evergreen Fund, in deals closed on November 15 and December 20, 2024, respectively. Per Dakota data, Arizona PSPRS has made a past commitment to the ninth vintage of Stone Point’s Trident fund in 2022.

In materials related to its January 23 board meeting, the $23.1B pension reported that its global private equity and private credit portfolios outperformed their benchmarks in November of last year. As of November 30, 2024, its global private equity policy carries a 23.6% current weight against a 22-30% target range, while private credit is at 14.4% against a 13-23% target range.

Written By: Dakota

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