Tallahassee (Fla.) Pension Plan hired CenterSquare Investment Management to run a $50 million real estate investment trust portfolio, said Kent Olson, the city's deputy treasurer-clerk.
The $1.6 billion pension fund conducted a shortlist search following the termination for performance of incumbent REIT manager J.P. Morgan Asset Management (JPM). Other finalists were Brookfield Asset Management and Cohen & Steers.
Investment consultant Segal Marco Advisors assisted.
Kristen Chambers, J.P. Morgan spokeswoman, could not be immediately reached to provide comment.