Los Angeles Fire and Police Pension System's board hired Morgan Stanley Investment Management and Adelante Capital Management as two of three managers to run a total of $200 million in REITs, said Tom Lopez, CIO. A third manager will be selected as early as April. The hirings are subject to contract negotiations. The $13.5 billion system interviewed REIT managers late last year.
Separately, the board issued an RFI for an alternative investments consultant. The system has a 10% allocation to alternatives but no consultant.