Colorado Fire & Police Pension Commit $75M to Private Equity; Terminate Two Managers; Hires Wellington for Currency Hedging

The Colorado Fire & Police Pension Association has committed $75 million across four private equity funds, according to meeting materials from the April 20 board meeting.

$20 million was committed to NORD KB Micro Cap VII, managed by NORD Holding. $20 million was committed to the buyout fund, Alpine Investors IX. $20 million was committed to the buyout fund, CORE Industrial Partners III. And $15 million buyout fund, Edgewater Capital Partners V.

In addition, two managers for the Pension fund were fully redeemed. This includes long/short equity manager Palestra Capital, and absolute return manager, Pharo Management. The Palestra account was valued at approximately $64 million. The Pharo account was valued at approximately $26 million.

Lastly, Wellington was hired to oversee FPPA’s existing currency hedging program. FPPA will transition away from its current overlay manager, BNP Paribas Asset Management. Staff is continuing diligence on a second manager to ultimately complement Wellington in oversight of the program.

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