The $21.5 billion Los Angeles Fire and Police Pensions has narrowed its search for new real estate separate account managers to six candidates, according to a board meeting document.
The six finalists include AEW Capital Management, CBRE, Heitman, L&B Realty Advisors, Sentinel and Stockbridge. LAFPP staff and its consultant The Townsend Group selected the finalists.
The LAFPP real estate separate account portfolio, excluding the Neptune Building, currently has a net asset value of approximately $537 million, $220 million under Heitman’s management and $317 million under Sentinel’s management, according to the document.
The new manager search was approved at the pension fund’s March 2, 2017, meeting, while the minimum qualifications criteria, the timeline and the search process was approved at its April 6 meeting.
Should the board approve the recommendation, the firms will be scheduled for presentations at the meeting on Oct. 19, 2017. Los Angele
