Anchorage (Alaska) Police and Fire Retirement System is conducting a shortlist search for a REIT manager to run about $9.25 million, confirmed Edward Jarvis, director.
Interested firms may contact investment consultant Callan Associates, Mr. Jarvis said. The search is to replace Adelante Capital Management, which was terminated in August for performance. Michael Torres, CEO of Adelante, said he was “disappointed a 15-year relationship ended” and that the impact of the financial crisis, specifically the third quarter of 2008, hurt the firm's five-year numbers.
The $335 million pension fund could make a hiring decision in December.