Pensacola (Fla.) Firefighters' Relief and Pension Fund hired Cohen & Steers and Lazard Asset Management to run global infrastructure portfolios.
The $127 million pension fund's board at its Feb. 12 meeting approved the hiring of the two managers to split a global infrastructure portfolio, recently released minutes showed.
The new managers will be funded by the termination of the pension fund's two master limited partnership managers Salient Partners and Westwood Holdings Group, also approved at the meeting.
Further information on portfolio sizes was not available.
As of Sept. 30, 2018, Salient and Westwood were the pension fund's sole MLP managers, with portfolios of $2 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.
