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Arizona System Adds $70M To Two Funds

Arizona Public Safety Personnel Retirement System has added a total of $70 million to two portfolios.

Arizona Public Safety Personnel Retirement System (PSPRS) has added a total of $70 million to two portfolios, Pensions & Investments reports. The $6.7 billion system committed $40 million to RK Capital Management for its Red Kite Explorer fund and up to $30 million to the Cortec Group Fund V.

The commitment will be funded from cash and with the system’s equity allocation. The Red Kite fund gives loans to mining companies in exchange for interest in mining operations, while the Cortec fund is a private equity investment that specializes in buyouts.

Click here for the story from Pensions & Investments.

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