Texas County & District Retirement System, Austin, hired Dimensional Fund Advisors to manage part of the $17.7 billion system's emerging markets equity portfolio, Gene Glass, system director, confirmed in an interview.
The size of the mandate has not been determined, and the funding source could not be learned.
The emerging markets target allocation was raised earlier this year to 6% of total assets, from 5%. The fund's other emerging markets equity managers are Wellington Trust, State Street Global Advisors and J.P. Morgan Asset Management, according to the system's website.
Separately, the system's investment staff committed a total of $274 million to the following private equity managers, according to the fund's online investment activity report: $50 million to Oaktree European Principal Fund III (U.S.); $42 million each to Waterland Private Equity Fund V Feeder and Chequers Capital XVI; $40 million each to KSL Capital Partners III and Davidson Kempner Long-Term Distressed Opportunities Fund; $35 million to Khosla Ventures IV; $20 million to H.I.G. Growth Buyouts & Equity Fund II; and $5 million to LC Fund V.
Separately, the system reappointed Cliffwater as the system's investment consultant, Mr. Glass confirmed. The hire came after a regularly scheduled review.