San Antonio Fire & Police hires 2 for value-added real estate

San Antonio Fire & Police Pension Fund committed $5 million each to value-added real estate strategies managed by DSF Group and Covenant Capital Group.

The board approved a shortlist search in June, according to recently released minutes of the Sept. 25 board meeting.

Separately, the pension fund lowered its assumed rate of return to 7.5% from 7.75%.

The board also lowered its inflation assumption to 3.5% from 4%. The reductions followed a presentation by The Segal Co., the $2.2 billion pension fund's actuarial consultant.

Matthew O'Reilly, chief investment officer, did not return a telephone call seeking more information by press time.