Investors - MARCH 28, 2016

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Dallas Police & Fire to exit two real estate funds

by Zoë Wolff

The $3.3 billion Dallas Police & Fire Pension System is planning to revoke its $50 million commitment to JP Morgan Strategic Property Fund and sell its $50 million commitment to PRISA, according to recent meeting documents. Both core open-end real estate fund commitments were approved in June 2015.

The Strategic Property Fund is sponsored by J.P. Morgan Asset Management – Global Real Assets and PRISA is sponsored by Prudential Real Estate Investors.

The pension fund states that its current allocation to real estate is 23 percent, while its target allocation is 15 percent. DPFP hopes that rescinding these commitments will bring the pension fund closer to its target.


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