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SDCERA Reviews Timber Fund Investment

San Diego County Employees’ Retirement Association will review its $50 million commitment to Molpus Woodlands III.

San Diego County Employees’ Retirement Association (SDCERA) will review its $50 million commitment to Molpus Woodlands III, Pensions & Investments reports. The move was taken after the system’s board members were not told about previous partnerships between its portfolio strategist, Salient Partners and Molpus Woodlands Group.

The Texas-based firm was a general partner on Molpus’ first two funds, had two board seats and shared fees on the funds. However, Salient Partners has no role in Molpus’ third fund, the one in which the pension fund has made a $50 million investment.

Click here for the story from Pensions & Investments.

Click here for additional coverage from San Diego Union Tribune.

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