Sheet Metal Workers, Local 33, Cleveland District, hired Principal Real Estate to run $8.5 million in domestic real estate for the $117 million pension plan, said Rich McLendon, administrator. Funding came from rebalancing, Mr. McLendon said.
The plan's asset allocation is 52% domestic equity, 23% fixed income, 17% international equity, 3% real estate and 5% cash.
Summit Strategies assisted.
