Searches and Hires

Houston Firefighters pledges $25 million to industrial warehouses fund

Houston Firefighters' Relief and Retirement Fund committed up to $25 million to Cabot Industrial Value Fund V, pending final due diligence and contract negotiations, said investment committee meeting minutes provided by the $4 billion pension fund.

The real estate fund, managed by Cabot Properties, will focus on industrial warehouses primarily in the U.S.

It is a first-time relationship, said Ajit Singh, chief investment officer, in an email.

The pension fund has a 20% private equity target.