Los Angeles Fire & Police Pension System board hired REIT managers...

Los Angeles Fire & Police Pension System board hired REIT managers Adelante Capital Management, Principal Global Investors and Morgan Stanley Investment Management to run $70 million each, said Tom Lopez, CIO of the $13.8 billion system. These are the system's first REIT-only managers. Funding will come from the system's $4.7 billion large-cap stock portfolios. No further information was available.