Chattanooga (Tenn.) Fire & Police Pension Fund hired UBS Farmland Investors and Molpus Woodlands Group each to run $5 million portfolios, recently released board meeting minutes showed.
The $225 million pension fund issued separate RFPs for farmland and timber managers in February following the creation of targets of 5% to each sector in July 2017. It made a commitment in October 2017 of $12 million to a timber and farmland fund managed by Hancock Natural Resource Group.
The other farmland finalist was Ceres Partners; the other timber finalist was Resource Management Service.
Katrina Abbott, fund administrator, could not immediately be reached to provide further information.