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Arizona pension fund commits $80m to real estate

by Zoë Wolff

The $8.3 billion Public Safety Personnel Retirement System of Arizona has committed $78.6 million to real estate, according to recent meeting documents.

The pension fund committed up to €35 million ($38.6 million) to Benson Elliot Real Estate Partners IV. The opportunistic fund, managed by Benson Elliot Capital Management, is seeking to raise €600 million ($662.9  million) in equity commitments.

The pension fund also committed $40 million to Walton Street Real Estate Fund VIII, managed by Walton Street Capital.

Arizona PSPRS had a 10.1 percent allocation to real estate as of June 2014.

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