LP profile · Pension fund
Arizona State Retirement System
Arizona State Retirement System is a pension fund headquartered in United States (North America). Ranked #138 in the 2026 Dealroom Power Law LP Ranking by realised power-law score across its venture commitments.
Historical Background
- The origins of Arizona's state pension system trace back to 1912, the year of its statehood, with the establishment of a pension for teachers.
- The Arizona State Retirement System (ASRS) as it is known today was formed in 1953 to provide retirement and other benefits to state employees, university faculty, and employees of the state's political subdivisions.
- In 1970, the state legislature enacted the current ASRS Fixed Benefit Plan after more than 80% of state employees and teachers voted to transition to the new plan.
Source of Capital
- The ASRS is a defined benefit public employee retirement plan.
- Its capital is derived from contributions from its members, who are public sector employees in Arizona, and their employers. This includes teachers, state university employees, and employees of counties, cities, and other political subdivisions.
Major Events
- No information available.
Allocation Strategy
- The ASRS employs a long-term strategic asset allocation approach that is not typically subject to radical changes based on market conditions.
- The system has a diverse portfolio that includes public and private equity, private credit, real estate, and other asset classes.
- As of early 2024, the ASRS has been opportunistically increasing its exposure to both U.S. and international public equities, with a target allocation of 44% to the asset class.
- The system has also adjusted its real estate target allocation from 20% down to 17%.
Sources
- https://www.azasrs.gov/content/our-history
- https://azlibrary.gov/sla/agency_histories/arizona-state-retirement-system-asrs
- https://www.azasrs.gov/content/investments
- https://ballotpedia.org/Arizona_state_retirement_system
- https://www.azasrs.gov/content/asset-allocation
- https://www.top1000funds.com/2024/01/arizona-asrs-ups-equity-adjusts-pacing-on-overweight-private-markets/
- https://www.perenews.com/arizona-state-retirement-system-sets-a-new-target-for-re-asset-allocation/
- https://www.pionline.com/alternatives/arizona-state-retirement-system-has-22-private-credit-allocation-says-deputy-cio