The three Orlando city pension funds, whose assets total some $380 million, are concerned about the time Cabot Partners is taking to put together its commingled real estate fund, said Bruce Harter, city treasurer. He said any delays beyond September could lead the funds to seek to place their allocation elsewhere.
The Orlando General, Police and Fire pension funds hired Cabot last year, committing some $4 million. ``We have yet to have a capital call,'' he said.
At Cabot, Robert M. Angland, president, acknowledged, ``It's been a little slower going than expected'' in putting together the new Cabot Industries Trust. He wouldn't say how much the trust has raised in commitments, but added, ``I expect we will be (at its $100 million target) in the next few months.''