Pensacola (Fla.) Firefighters' Relief and Pension Fund has hired both Cohen & Steers and Lazard Asset Management to manage the $127 million pension fund’s infrastructure portfolio, according to a recent agenda document.
According to the minutes from the Feb. 12 meeting, the asset managers will be funded by funds liquidated from master limited partnerships with Salient Partners and Westwood Holdings Group. The motion passed unanimously.
No details were released about the pension fund’s infrastructure portfolio.
Salient was paid $3,942.89 in money management fees for the period ending Dec. 31, 2019. Westwood Trust was paid $4,441.88 for the period ending Dec. 31, 2019, according to the document.
Cohen & Steers’ infrastructure fund follows a primary investment objective of total return, with an emphasis on income through investment in securities issued by
