Dallas Police & Fire Pension System terminated Tradewinds Global Investors because of personnel changes at the firm, according to recently released minutes of the $3.1 billion pension fund's April 10 board meeting.
Tradewinds managed $152 million in a global equity portfolio as of Feb. 29.
Investment consultant NEPC recommended the termination, according to the minutes. The assets will be transitioned to the other existing global equity managers.
Brian Blake, the retirement system's chief investment strategist, referred questions to Richard Tettamant, administrator, who did not return a telephone call by press time.