El Paso (Texas) City Employees’ Pension Fund committed about $35 million to Heitman America Real Estate Trust, a core open-end real estate fund, said Robert Ash, executive director, in an e-mail.
The $723 million pension fund has a 10% allocation to real estate.
Separately, the pension fund is funding a roughly $35 million master limited partnership mandate with Salient Capital Advisors from its domestic equity portfolio. No managers are being terminated, Mr. Ash wrote.
The pension fund hired Salient Capital, its first MLP manager, in August.