Pembroke Pines (Fla.) Fire and Police Retirement System is searching for a manager to run a $5 million timber portfolio, confirmed Karen Warner, plan administrator. The board is adding the $208 million pension plan's first timber investment for greater diversification. Funding will come from a general rebalancing and cash; plan officials don't anticipate terminating any existing managers.
The RFP is available on consultant Dahab Associates' website, www.dahab.com, and proposals are due Dec. 16. There is no timetable yet for manager interviews or making a selection, Ms. Warner said.
