Southern California Edison takes stake in REIT
By Arleen Jacobius | June 28, 2012 1:35 pm
Southern California Edison Co.’s $3.3 billion defined benefit plan invested $15 million in real estate investment trust Western Asset Mortgage Capital, said Gregory Henry, manager of investments in the Treasurer’s Department of the Rosemead, Calif.-based company.
Southern California Edison Co. Retirement Plan Trust owns 750,000 shares amounting to 7.26% of the REIT’s outstanding stock after it went public in May.
“Our primary focus is how we can add value,” he said.