Arizona Public Safety Personnel Retirement System, Phoenix, rehired investment consultant Ennis Knupp to a three-year contract starting Jan. 1, said James Hacking, executive director of the $7 billion system.
Ennis Knupp is helping the system build its real estate allocation to 6%, a level set in March as a result of an asset allocation study the firm conducted. The fund’s real estate allocation is now at about 2%. “As we build out that space, we want to diversify the types of real estate investments we will hold,” Mr. Hacking said.
