In a signal of how much the nation’s most mainstream investors are moving toward cannabis acceptance, about a dozen public pension funds between here and Louisiana have invested in the plant via REIT, a real estate investment trust
MJ Biz Journal
- Among the investing funds are the New York State Common Retirement fund, California State Retirement Fund, and Texas Permanent School Fun.
- A Tennessee fund is among the investors, despite Gov. Bill Lee’s ongoing opposition to legalization.
- “Pension funds typically invest with a long-term horizon and are viewed by many companies as ‘sticky money’ that doesn’t move in and out of stocks frequently,” said Craig Behnke, an equity research analyst.
- “A rising investment appetite from investors with long-term outlooks could have positive benefits such as serving to de-risk early stage cannabis investing through more stable and consistent exit opportunities.”