San Antonio Fire & Police Pension Fund committed $10 million each to five hedge fund managers, according to recently released minutes of the July 31 board meeting.
The $2.2 billion pension fund committed to Indus Pacific Opportunities Fund, managed by Indus Capital Partners; Pine River Fund, a global multistrategy relative value fund run by Pine River Capital Management; Pacific Alliance Investment Management Asia Opportunity Fund; Brevan Howard Multi-Strategy Master Fund, run by Brevan Howard Asset Management; and DaVinci Reinsurance.
Hedge fund consultant Albourne Partners assisted.
Separately, the fund named finalists for risk-parity and real estate searches. AQR Capital Management, Putnam Investments and Invesco were named finalists for risk parity. Rockpoint Real Estate Fund IV, managed by Rockpoint Group, and Trigate Property Partners, managed by Trigate Capital, are opportunistic real estate finalists.
Finalists for value-added real estate are Admiral Capital Real Estate Fund managed by Admiral Capital Group; DSF Capital Partners IV managed by DSF Group; USAA Core Plus Fund, managed by USAA Real Estate; Covenant Apartment Fund VII, managed by Covenant Capital Group, and Invesco Real Estate Fund III.
Real estate consultant Townsend Group originally recommended committing $20 million to opportunistic real estate and $10 million to value added. The risk-parity allocation is $100 million.
Matthew O’Reilly, chief investment officer of the pension fund did not return a telephone call for additional information.