Austin (Texas) Police Retirement System named three finalists each in the $513 million pension fund's search for active domestic large-cap growth and value managers, confirmed Sampson Jordan, CEO.
Sands Capital Management, Polen Capital Management and AllianceBernstein (AB) are finalists to run growth; and Vulcan Value Partners, Herndon Capital Management and Bahl & Gaynor Investment Counsel, for value.
One manager will be hired to run $25 million to $35 million in each strategy. A decision is expected at the Nov. 13 meeting, Mr. Jordan said.
Funding will come from a Northern Trust S&P 500 index fund where $85 million was parked from the April terminations of global equity managers Aletheia Research and Management, which handled $55 million, and Tradewinds Global Investors, $30 million.
Consulting Services Group assisted with the finalist recommendations.