Springfield Police Officers’ & Firefighters’ Retirement System slates $25m for Prime Storage Fund III

Springfield (Mo.) Police Officers' & Firefighters' Retirement System has approved a commitment of up to $25 million to Prime Storage Fund III, a fund managed by Prime Group Holdings.

Prime Group is the largest private owner-operator of self-storage facilities in the United States, according to the company’s website. The company sources, owns and manages a portfolio of more than 15.5 million rentable square feet, located in 25 states and one U.S. territory.

Prime Storage Fund III launched in May with a $1.5 billion fundraising target, according to a filing with the SEC.

A spokesperson for the Springfield fund said the pension fund has no previous investments with this manager. Springfield will fund the commitment with cash and return of any capital investments from other managers.