Sarasota (Fla.) Firefighters Pension Fund hired Cohen & Steers to manage about $6 million in a global infrastructure portfolio.
The $162 million pension fund conducted a shortlist search for a global infrastructure manager because the board wanted to leave the master limited partnership asset class, said Debra Martin, the city's pension plans administrator.
Ms. Martin said the performance of the pension fund's sole MLP manager, Cushing Asset Management, was not a concern.
Other finalists were Brookfield Asset Management, Lazard Asset Management and Nuveen.
Investment consultant Graystone Consulting assisted.
