Austin (Texas) Police Retirement Fund hired IAI International to manage a new venture capital allocation. IAI will manage $4 million in addition to the $4 million it also manages in macro-cap equities for the $150 million fund.
Sam Jordan, pension administrator, said the fund decided to go with IAI after a search conducted internally. The fund's current asset allocation is 45% domestic equity, 20% international equity, 20% fixed-income, 10% natural resources and 5% venture capital.
