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os Angeles Fire and Police Pensions (LAFPP) is rebalancing its real estate portfolio by divesting $150m from its real estate investment trust (REIT) holdings. This move aims to address a portion of its overall real estate imbalance, with the pension fund opting for a more efficient approach than selling individual assets or reducing positions in funds.

    The decision was made after LAFPP assessed its REIT portfolio, which totals $1.3bn and is managed by three firms: Cohen & Steers, Principal Real Estate Investors, and Alliance. The latter manages the smallest portfolio, valued at $190.6m, while Cohen & Steers oversees the largest, with a value of $519.1m invested in US REITs.

    The REIT portfolio accounts for just 1.5% of LAFPP's total real estate holdings. Despite efforts to comment on this development, the pension fund has not responded to requests.