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Investors - AUGUST 31, 2015

Arizona pension commits $90m to real estate and energy investments

by Andrea Waitrovich

Arizona Public Safety Personnel Retirement System planned to invest $90 million in real estate and energy investments during its Aug. 26 meeting.

The pension fund committed up to $50 million to Ridgewood Energy Oil & Gas Fund III, which announced its final close in July, raising more than $1.9 billion in commitments, exceeding its $1.5 billion target. The third fund in the series continues Ridgewood’s investment focus on finding and developing oil extraction projects in the deepwater Gulf of Mexico for $20 per barrel or less.

The other investment was $40 million to Patron Capital V, a real estate fund managed by Patron Capital Advisers. The pan-European opportunity fund launched in late 2014 with a $1.1 billion target. Fund V is expected to mirror the strategy of Fund IV, which the company closed in September 2012.

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