The City of Phoenix Employees' Retirement System hired Morgan Stanley Real Estate and JPMorgan Investment Management to each run $50 million in core real estate, according to minutes of the $2 billion fund's Sept. 28 board meeting. The system initiated the search earlier this year. Donna Buelow, retirement program administrator, was not available to provide further details. Ryan Harvey, associate consultant at R.V. Kuhns, the fund's investment consultant, was not available for comment at press time.