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Colorado FPPA mandates Wood Creek for $125m real assets portfolio

The pension is making the allocation as part of its real assets direct and co-investment programme.

The Fire and Police Pension Association of Colorado (FPPA) has hired Wood Creek Capital Management to handle a $125 million real assets mandate.

Wood Creek is an affiliate of Babson Capital Management, and invests in real assets including global agriculture, intellectual property, tangible assets, pharma and reinsurance.

FPPA’s mandate follows a $250 million investment by Washington State Investment Board with Wood Creek last May to invest into a portfolio of agriculture-related midstream assets through a separate account structure.

“The relationship with Wood Creek is strategically important to FPPA’s ongoing internally managed Illiquid Alternatives programme and specifically to the systematic and structural build out of the real assets exposure,” said Dale Martin, director of illiquid alternatives at FPPA in a statement. “Partnering with Wood Creek will allow FPPA to further execute on an increasingly compelling and broadening Illiquid Alternatives opportunity set across private equity, private credit, real estate and real assets.”

FPPA has a long-term target allocation of 26 percent to its Illiquid Alternatives programme.  This commitment includes the option to invest both directly and through co-investments.

“We are encouraged by the opportunity to work with Wood Creek as they offer FPPA a true extension of staff and resources to tactically allocate among a custom portfolio of tangible and intangible real asset positions,” said Scott Simon, chief investment officer, FPPA.

Wood Creek manages approximately $2 billion, according to its website.


 

Reporting by Bailey McCann.