Pensacola (Fla.) General Pension and Retirement Fund hired Cohen & Steers and Lazard Asset Management to split a global infrastructure portfolio.
The $152 million pension fund funded the manager hires by terminating the pension fund's two master limited partnership managers Salient Partners and Westwood Holdings Group, recently released board meeting minutes showed.
Further information on portfolio sizes was not immediately available.
As of Sept. 30, 2018, Salient and Westwood were the pension fund's sole MLP managers, with portfolios of $3 million each, according to the pension fund's most recently available investment report.
Investment consultant Burgess Chambers & Associates assisted.
Amy Lovoy, plan administrator, could not be immediately reached for further information.