LA Fire and Police searches for core manager
The $19.7 billion Los Angeles Fire and Police Pensions system is searching for a real estate manager for a core separate account.
The pension fund is seeking to expand its real estate core separate account through its search for a manager with at least $1 billion in private real estate assets under management and at least a decade of real estate investing experience. The pension system is looking for a firm with experience across the four main property types in the United States, a 10-year track record and a history of investing in core and non-core real estate, according to the RFP.
Currently, LAFPP has two separate account managers, Heitman Capital Management and Sentinel Trust Company. The separate accounts total 15 properties, which include multifamily, office, industrial and retail real estate, valued at $729 million, according to the