Arizona pension fund commits $80m to real estate
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.