The City of Dallas Employees’ Retirement Fund (ERF) selected CenterSquare Investment Management as its Real Estate Investment Trust (REIT) manager at its April board meeting, according to recently disclosed meeting minutes.
The $3.6 billion US public pension unanimously chose CenterSquare, a Pennsylvania-based asset manager with approximately $9.6 billion in AUM, over the other finalist candidate, Chicago-based Heitman. Representatives from both finalist firms delivered presentations at the meeting.
Dallas ERF has a 6.4 percent current allocation to private real estate, slightly above its target of 5 percent. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.