Colorado Fire & Police Pension Association, Greenwood Village, hired Wood Creek Capital Management to run a $125 million real assets portfolio, said Dale Martin, director of illiquid alternatives at the $4.6 billion pension fund.
Wood Creek will seek direct investment opportunities in “tangible and intangible” real assets; the $125 million will be invested over five years, Mr. Martin said. The pension fund will have the ability to co-invest alongside Wood Creek, he added.
The pension fund has a 26% long-term target allocation to illiquid alternatives, which is made up of real assets, private equity, private credit and real estate.
“We are encouraged by the opportunity to work with Wood Creek as they offer FPPA a true extension of staff and resources to tactically allocate among a custom portfolio of tangible and intangible real asset positions,” said Scott Simon, the pension fund’s chief investment officer, in a news release.
Wood Creek will have full discretionary authority over investments, Mr. Martin said.