The Arizona State Retirement System (ASRS) has awarded BNP Paribas Asset Management Alts a $600m (\u00a3444.7m) significant risk transfer (SRT) investment mandate.<\/p>\n
The latest mandate follows a $400m allocation made by ASRS in BNP\u2019s SRT strategy back in April 2024, bringing the US state pension fund\u2019s total commitments to the manager\u2019s SRT book to $1bn.<\/p>\n
ASRS said the investment is part of its plans to increase its private credit allocation across the US and Europe.<\/p>\n
\u201cThe SRT market continues to present an attractive investment opportunity which we find compelling from a risk-return perspective,\u201d stated Al Alaimo, deputy chief investment officer at ASRS.<\/p>\n
Read more: 400 Capital closes $1.5bn residential mortgage SRT<\/a><\/p>\n According to BNP, the SRT market has continued to grow, with around 40 banks issuing SRTs and a volume of $15bn in the first six months of 2026. More than 70 per cent of this volume came from European banks.<\/p>\n \u201cWe are delighted to grow our partnership with ASRS through this additional mandate and thank them for their continued trust in investing for their scheme members,\u201d said Deborah Shire, deputy head of BNP Paribas Asset Management Alts. \u201cAs investors seek opportunities beyond direct lending strategies, SRT offers decorrelation and resilience.\u201d<\/p>\n