Chattanooga (Tenn.) Fire and Police Pension Fund committed $12 million to a fund managed by Hancock Natural Resource Group, recently released board meeting minutes show.
The $215 million pension fund's board approved the commitment — to what it called in the minutes a timber and farmland fund — at its Oct. 13 meeting. The pension fund approved targets of 5% each to timber and farmland at its July 20 meeting. Investment consultant Dahab Associates assisted,
The name of the fund and funding for the targets could not be immediately learned. According to the Oct. 13 minutes, the remainder of those targets will be finalized at a later date.
Katrina Abbott, interim retirement administrator, could not be immediately reached to provide further information.