Texas Plan Expands RE Options
August 27, 2008
The El Paso Firemen & Policemen’s Pension Fund recently approved the addition of core and value-added strategies to its real estate portfolio, executive director Bob Stanton told IMW.
Stanton said that the board has authorized consultant Summit Strategies Group to proceed with an invitation-only search for manager to oversee $40 million.
He added that funding would come from rebalancing within the fund’s real estate portfolio. The guns and hoses fund has an overall allocation of 5% to real estate investments.
No manager terminations are expected to occur.
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