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Arizona Public Safety Personnel Retirement System
The Arizona Public Safety Personnel Retirement System was founded in 1968. Mark Steed joined in 2007 and became Chief Investment Officer in 2018.
Arizona Public Safety Personnel Retirement System
The Arizona Public Safety Personnel Retirement System was founded in 1968. Mark Steed joined in 2007 and became Chief Investment Officer in 2018. The fund serves Arizona public safety personnel through multiple plans. The portfolio allocates 22.85 percent to private equity. Confirmed holdings include commitments to Stone Point Capital Trident X, TPG Angelo Gordon Asset Based Credit Evergreen Fund, Vivo Capital Fund IX, StepStone VC Opportunities VII and Tritium Partners III. Geographic exposure spans North America, Europe and Asia. The system also maintains real estate joint ventures in Arizona and positions in gold and timber. The fund reports 24 billion dollars in assets. It maintains offices only in Phoenix. Adjacent vehicles include the Public Safety Cancer Insurance Policy Program established in 2000. In October 2024 the Chief Investment Officer delivered a keynote on artificial intelligence at the Fall Investment Academy Forum. The system operates as a public pension with statutory governance separate from state general funds. Trustees include Scott McCarty, who also serves as Deputy Town Manager for the Town of Queen Creek. Service providers include StepStone Group as investment advisor since 2007 and Kutak Rock LLP as legal counsel.
General information
Firm type
Pension Fund
Year founded
1968
AUM
$25B
Location
Region
North America
Country
United States
City
Phoenix
Corporate office
3010 East Camelback Rd., Suite 200, Phoenix, AZ 85016, United States
Principals
Mark Steed
Chief Investment Officer
Scott McCarty
Chairman of the Board of Trustees
Michael F. Townsend
Administrator
Sector focus
Frequently asked questions
Who runs investment decisions at Arizona Public Safety Personnel Retirement System?
Mark Steed serves as Chief Investment Officer. He joined the organization in 2007 and assumed the CIO role in 2018.
Does Arizona Public Safety Personnel Retirement System participate in fund commitments or only direct deals?
The system commits to funds and participates in co-investments. Holdings include Stone Point Capital Trident X and StepStone VC Opportunities VII.
What asset classes receive the largest allocations?
Private equity receives a 22.85 percent target allocation. Additional exposure exists in real estate, fixed income ETFs and commodities.
Which geographic regions does the system target?
Investments span North America, Europe and Asia. Real estate holdings concentrate in Arizona and Europe.
How is the system related to other Arizona public pensions?
It collaborates with Arizona State Retirement System on state-level pension legislation and co-investment opportunities.
Does the system maintain separate philanthropic structures?
It administers the Public Safety Cancer Insurance Policy Program, a self-insured benefit providing coverage to eligible members and retirees.
What is the system's known posture on co-investments alongside external GPs?
The system executes co-investments and secondaries. It maintains membership in ILPA and uses ILPA benchmarks for private equity performance measurement.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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