Amarillo (Texas) Firemen's Relief and Retirement Fund allocated $20 million total to two small-cap equity managers, board meeting minutes show.
The $133 million pension fund during a September meeting hired Virtus Investment Partners to manage a $10 million active core equity strategy and Vanguard Group to manage a $10 million passive strategy.
Funding will come from existing manager Luther King Capital Management. How much Luther King manages for the pension fund and in what kind of strategy could not immediately be learned.
Laura Storrs, finance director for the city of Amarillo, could not immediately be reached for additional information.