Pompano Beach (Fla.) Police & Firefighters’ Retirement System hired Center Coast Capital Advisors to manage an $11 million master limited partnership portfolio, recently released board meeting minutes said.
The $227 million pension fund conducted an invitation-only search this fall. Cushing Asset Management and Miller/Howard Investments were the other finalists.
At the pension fund’s Nov. 17 board meeting, the board approved a 5% target to MLPs, funded by reductions in the targets of fixed income to 22.5% from 25% and domestic large-cap equities to 10% from 12.5%. Whether any managers were terminated could not be learned by press time.
Investment consultant Graystone Consulting assisted.
Glenda Rowley, executive director, did not return phone calls by press time.
