The Fire & Police Pension Association of Colorado (FPPACO) is in the process of diversifying its private equity portfolio into the emerging markets, Mena FM has learned.
The $3.2bn pension fund’s investment committee met in July to discuss the ongoing strategic plan for its investment portfolio. CIO Scott Simon discussed the fund’s investment initiatives, including diversification of the emerging markets private equity portfolio, making hedged equity allocations, and making coinvestments and direct investments, among others.
FPPACO hired JP Morgan as an emerging markets equity manager for a $100m mandate at the beginning of this year. As at 31 December 2010 (the most recent data available), the pension allocated 14.1% to private capital, 21.3% to fixed income, 58.1% to global equity, 3.3% to real assets, 0.4% to absolute return, 2.3% to cash and 0.63% to an opportunistic portfolio.
