Missouri pension fund hires REIT manager
The $321 million Springfield (Mo.) Police Officers’ & Firefighters’ Retirement System has hired Brookfield Investment Management to run a $6 million global REIT portfolio, accordingly to Janelle Manley, a spokesperson for the retirement system.
This search was conducted with assistance from Segal Rogerscasey, the retirement system’s investment consultant, and was by invitation only. AEW Capital Management was the other finalist. Manley says the board feels Brookfield is a “nice match” for the pension fund.
The retirement system has a 5 percent target allocation to real estate and currently has a 4 percent allocation to the asset class.